Telangana sees a 48% increase in revenue from registration and stamp duty in H1
Telangana is India's fifth-highest state in terms of revenue from stamp duty and registration fees, having collected Rs 7,213 crore.
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The first half of the current fiscal year saw a 48 percent increase in stamp duty and registration charge (SD&RC) revenue for the southern Indian state of Telangana, which accounts for 8% of all revenue collections in India.
According to a November 21 press release from Motilal Oswal Financial Services, Telangana is now the ninth-highest state in terms of annual percentage growth in SD&RCs revenue and the fifth-highest state in terms of absolute SD&RCs revenue in the entire nation.
During the first half, 27 states and one union territory collectively collected Rs 94,847 crore in income, up 35% from Rs 70,120 crore during the same time of the previous fiscal, according to a compilation by Motilal Oswal.
Maharashtra is ranked first in the table with the greatest state income collection from SD&RCs at Rs 18,601 crore during the first half of the current fiscal, followed by Uttar Pradesh at Rs 12,394 crore, Tamil Nadu at Rs 8,662 crore, and Karnataka at Rs 8,229 crore.
"The residential real estate sector has done incredibly well over the last 18 to 24 months and has kept up its good performance through 2QFY23. Over the past six months, the majority of incentives, including reduced stamp duties, lower interest rates, or lower prices, have vanished, according to Nikhil Gupta, chief economist at Motilal Oswal Financial Services Ltd.
Therefore, it is highly likely that the sector will experience some challenges in the upcoming quarters. In CY23, there is a real possibility of a global recession, so the real estate market may experience some slowdown.
