HYDERABAD:
Telangana’s revenue collection from stamp duty and registration charges (SD&RCs) increased 48% to ₹7,213 crore for the six months ended September, from ₹4,900 crore in the corresponding period of previous fiscal.
In terms of annual percentage increment, in revenue collection from SD&RCs, the State was 9th highest in the list of 27 States and one Union Territory (J&K). In absolute revenue terms, Telangana was 5th highest, Motilal Oswal Financial Services said.
Cumulative revenue collection from SD&RCs from the 27 States and one Union Territory totalled ₹94,847 crore for H1-FY23, which was 35% more compared to ₹70,120 crore in the same period of corresponding fiscal. Telangana contributed 8% to the overall SD&RCs revenue collections in the country, Motilal Oswal Financial Services said in a release on its study.
Maharashtra topped the table with revenue from SD&RCs of ₹18,600 crore, an increase of 65% from the year earlier period’s collection of ₹11,300 crore. The State contributed to 20% of the total revenue from the segment of the country in H1-FY23.
Uttar Pradesh was second with ₹12,394 crore on the back of 33% increase in the revenue year on year. Tamil Nadu was at the third spot with ₹8,662 crore and reported 39% increase in the revenue from the ₹6,200 crore in the same period of previous fiscal. At 4th position was Karnataka with revenue from SD&RCs of ₹8,229 crore.
“The residential real estate sector has performed superbly over the past 18-24 months and continues to do well right up to 2QFY23,” said Nikhil Gupta, chief economist, Motilal Oswal Financial Services.
However, with “most of the incentives such as stamp duty reduction, lower interest rates or lower prices have disappeared over the past six months, it is very likely that the sector may see some headwinds in the coming quarters. Add to that the real possibility of a global recession in calendar year 2023 and the real estate sector may be in for some slowdown,” he said.
Mizoram witnessed growth of 104%, followed by Meghalaya with 82%, Sikkim with 70%, Maharashtra with 65%, Odisha with 50% and Telangana and Kerala with 48% in terms of increase in the revenue year on year. Eleven 11 States – Mizoram, Meghalaya, Sikkim, Maharashtra, Odisha, Telangana, Kerala, Chhattisgarh, Uttarakhand, Himachal Pradesh and Rajasthan – recorded more than 40% increase in the revenue collection.
Published - November 22, 2022 12:31 am IST
