While the threat of a possible third wave of the pandemic looms large, there is heartening news in the real estate sector. As compared to corresponding period last year, government revenue from stamp duty and registration of property shot up by 62% in the first three quarters of the ongoing financial year.
Simultaneously, a 34% jump has been recorded in the number of properties registered between April and December this year, as compared to the same period last year.
Government revenue from stamp duty and property registration stood at Rs 7,499 crore in the first nine months of ongoing financial year, a 62% jump from Rs 4,624 crore in the same period last year. Similarly, the number of property registrations were 7,44,500 in the April-December period of the 2020-21 year. These shot up by 34% to 9,95,809 in the first nine months of the ongoing financial year.
A robust rise in both number of registrations and government revenue from stamp duty and registration of properties indicates a huge upswing inGujarat‘s real estate sector, which not only provides huge EMPLOYMENT, but spurs economic activity as well.