Corona scare: Stamp duty collection dips by Rs 288 crore in Agra

AGRA: The shutdown triggered by the spread ofcoronavirushas caused the stamp and registration department in Agra district a loss of Rs 288 crore this fiscal.


According to officials, they have collected Rs 450 crore in 2019-20, which was Rs 738 crore in the last fiscal, thereby incurring a loss of Rs 288 crore (30%) to the department.


On an average, 10 sub-registrar offices in the district used to carry out registration of as many as 100 properties daily. The number, however, reduced to 10 following the reports of coronavirus spread in the first week of March. Meanwhile, the state government on Friday suspended the registration of properties till March 31.



Munendra Kumar, deputy inspector general, stamp and registration department, said, “The revenue collection for 2019-20 dipped by 30% as compared to the last financial year. None of the sub-registration offices was able to reach the target due to the outbreak of coronavirus. Now, the registration of properties has been stopped till March 31.”


Source: https://realty.economictimes.indiatimes.com/news/regulatory/corona-scare-stamp-duty-collection-dips-by-rs-288-crore-in-agra/74785217

March 24, 2020

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