Pune beats Mumbai in stamp duty mop-up

Records the highest percentage increase collections.

In Maharashtra, the Pune zone has recorded the highest percentage increase in collection of registration fees and stamp duty during the current financial year, overtaking even the Mumbai zone "" thanks to the booming real estate market in the zone. The Pune zone has already surpassed the targeted revenue mop-up of Rs 710 crore.

At the end of February 2006, the Pune zone has garnered a revenue of Rs 825.14 crore, which is 116 per cent of the targeted figure.

The Thane zone follows with a revenue mop-up, which is 109.90 per cent of the targeted figure of Rs 580 crore. The Mumbai zone recorded a collection of Rs 2,591 crore which is 104.49 percent of targeted figure for the year.

A H Pawar, deputy inspector general of registration and stamp duty, said, "Real estate, especially housing projects, is the dominant factor in our overall revenue collection. Of the total 'non-court fee' revenue, a major part comes from deals for purchases of flats and houses. This year, we have collected a 'non-court fee' revenue of Rs 4,042.78 crore, while the total court-fee revenue amounted to Rs 959.19 crore."

The stamp duty concession announced in the state Budget will certainly affect the collection, he said, adding "we would be able to work out the exact impact after the approval of the bill".

The Pune zone comprises Pune, Satara, Sangali, Kolhapur and Solapur districts. Of the total revenue of Rs 825.14 crore collected till February, Rs 639.52 crore is non-court fee revenue.

While the Thane zone, which includes Thane, Raigad, Ratnagiri and Sindhudurga districts, has garnered a non-court fee revenue of Rs 520.75 crore, the Mumbai zone has mopped up Rs 2,427.32 crore non-court fee revenue.

The Nagpur zone, which stands fourth with a collection rate of 102.82 per cent, has recorded a total revenue of Rs 1,799.29 crore, of which Rs 1390.54 crore is in the form of non-court fee.

The department has already crossed the overall projected figure of Rs 4,700 crore by garnering Rs 5,000 crore at the end of February 2006.

Although the Aurangabad and the Latur zones have not surpassed the targeted figures till date, they are close to their 'make-up' level with a collection rate of 93.06 per cent and 89.96 per cent, respectively.

The Nasik and the Amaravati zones stand second last and last in terms revenue collection at 83.73 per cent and 78.57 per cent, respectively.

"There is still one week of the financial year left, and we expect all trailing zones to achieve their targets and, thus, expect the overall revenue collection to touch Rs 5,200 crore," Pawar said.