representative image Noida: A record 16,500 properties were registered in the city in October stamp duty Revenues were at their peak in the financial year – an increase of almost 70% compared to the same period last year. Officials said the increase was due to festivals like Navratri and Diwali in October this year as people like to register their properties during this auspicious time.
Assistant Inspector General of Registration Shashi Bhanu Mishra said the department collected revenue of Rs 513.4 crore, about 22% more than the target of Rs 421.5 crore set for the month. This is an increase of 101% year-on-year compared to the same period last year.
Data shared by the revenue department shows that 16,512 properties were registered in October, compared to 9,792 properties in the same month last year. Although Navratri was also celebrated in October last year, the department collected only Rs 255.3 crore in stamp duty that month.
Last year, Diwali was celebrated on November 12 and a total of 10,722 people visited the department. property registration And collected revenue of Rs 237.6 crore that month.
“Stamp duty accounts for the largest share of revenue, along with other income streams including registration fees and justice fees,” he said. The festive period, traditionally a time when families consider new property investments, has likely contributed to the month’s surge in registries. “Played a major role in promoting it.”
The data also shows that in the first seven months (April to October) of the financial year 2024-25, the department collected revenue of Rs 2,496 crore, about 51% of its annual target of Rs 4,880 crore. Of this, Rs 1982.7 crore was collected between April and September this year, which was Rs 1871.6 crore in the same period last year.
“20.6% of the total revenue earned by the department in the current financial year is in October alone. The department saw the highest number of property registrations this month,” the official said. Despite the gains, the department is facing a cumulative shortfall of Rs 313.2 crore between April and October against the target of Rs 2,809 crore.
A total of 1.2 lakh properties were registered in the financial year 2023-2024, while 87,983 properties were registered between April and October in the current financial year.
