GANDHINAGAR: With the revised jantri (annual statement of rates) having come into force from April last year, Gujarat government is expecting an increase of over Rs 1,000 crore in income from stamp duty and registration as compared to the budget estimates of 2023-24.
In its annual budget, government has estimated that it will earn Rs 13,950 crore from stamp duty and registration fees in 2023-24. “Government is expecting robust collections in the last quarter of the ongoing financial year because of jantri revision. Government income for 2023-24 is expected to cross Rs 15,000 crore,” said top government officials.
In the first nine months of the current financial year (April to December), government earned Rs 11,702.19 crore, while the income from stamp duty and registration fees was Rs 14,348 crore for 2022-23.
“It has been observed that the last quarter of the financial year reflected a higher income from stamp duty and registration fees as compared to the other three quarters. The stamp duty and registration fee collection for the entire year is expected to exceed budgetary estimates by over Rs 1,000 crore,” officials said.
Officials added that a number of services provided by sub-registrar offices across the state have been simplified and made online to facilitate a faster processing of property registration papers. “The simplification of processes involved in property registration will also contribute to a higher revenue from the stamp duty and property registration,” officials said.
Jantri is an essential guideline for the assessment of stamp duty, which is charged on the agreement of sale of a property.
After 12 years, government doubled jantri rates in February 2023, and enforced the new annual statement of rates from April 2023.
Jantri also enables to indicate the property prices for every location or a specified area within an administrative boundary.
