Pune: This October value property registration has helped the Garner registration department Garner’s highest income collection this year RS3,129 Crore, which is also higher than RS2.234 Crore Easning during the same month in the pre-pandemic year in 2019.
From high-value property registration for non-agricultural plots (NA) registered by Rera, an increase in revenue for October 2021 is a reflection of the boom in the realty sector, an official said in the state registration department.
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In addition to gathering good income, there is also an increase in registration of almost 5.75% compared to the previous month, the official added.
“After the Dasara, there is a stable increase in registration with more concentration on high-value property registration in the Central Income Group (MIG) and segment and high income group (HIG).
This slowly increases and also reflects the boom in the realty market.
This trend was also proven by the collection of stamp duty in October 2021, where there were no additional soups such as the neglect of Bee Prangko like last year, “said Inspector General Registration and Stamps (IGT) of Sheravan Hardikar.
“Last year, the collection had touched RS4,000-RS 6,000 Crore because of the neglect of stamp duty.
But there is no SOP in this financial year.
Income in October 2021 can so far a collection of the highest a month, where no soup announced by the government State, “he said.
Maximum registration is seen in Metros such as Mumbai, Pune and Nagpur.
Districts such as Raigad, Thane and Nashik also witnessed an increase in registration, Hardikar said.
Amravati, Aurangabad and Solapur also witnessed a large number of property registration and revenue collection last month.
Developers say healthy growth in the volume of residential property registration is a sign of market recovery.
The Confederation of State Association of Developer Real Estate Indian Association (Credai) President Sunil Furde told TI that there was an increase in registration that was consistent in recent months.
“This shows that there is buoyancy in the realty sector despite the decline of the government stamp,” he said.
From September to December last year, the stamp duty was reduced by 3%.
From January 1 to March 2021, reduced by 2%.
Property observer feels that after receding the second wave of covid pandemic and relaxation in restrictions, there has been a stable increase in terms of property registration and income collection.
“Stable growth has caused new leases to live to the housing market and developers are preparing for the period of the star celebration,” said a property consultant.