The public-private partnership adopted by the 359 sub-registrar offices across Maharashtra since September 2000 has paid rich dividends to the state exchequer, with an annual revenue collection growth rate of 15 per cent being recorded despite the recession in the real estate market.
Revenue collection, which was pegged at Rs 1,900 crore for the fiscal 1999-00 before the new system came into place, increased to Rs 2,220 crore in 2000-01 and Rs 2,450 crore in 2001-02. Of this amount, Rs 300 crore is revenue generated for registering documents while the remainder was earned by the state government through payment of stamp duty by property owners. Chief secretary V Ranganathan said,
