Stamp duty collection again falls short of target

Nagpur: At over Rs1,700 crore during the last financial year (2025-26), the stamp duty collection on property transactions in Nagpur city has fallen short of the 1,900 crore target by around 9%. The total value of transactions during the fiscal ended March 31 comes to over Rs24,000 crore considering 7% stamp duty was charged. More than 11 lakh deeds were registered during the last financial year. The state govt move to keep the ready reckoner rates unchanged this financial year (2026-27) is aimed at boosting realty purchase which in turn may increase the stamp duty collections too. The stamp duty target was Rs1,800 crore during the financial year 2024-25, which could not be met too. However, the ready reckoner rates were increased by 5% on an average for the city during the fiscal 2025-26.Ready reckoner is the govt valuation of the property prices in a given area. Even if a property is registered for a lower price, the stamp duty is calculated according to the ready reckoner schedule.The stamp duty is paid by the purchaser of the property. The target for stamp duty is fixed on the basis of trends in property transactions and the appreciation in prices during the year. In 2025-26, stamp duty to the tune of Rs556 crore was collected from the Nagpur rural areas, while the target was Rs600 crore.Sources say the stamp duty collection shortfall could also be attributed to slowdown in the real estate transaction.Ready reckoners are also referred to while calculating the capital gains tax. Even if a lower sale price is declared of a property, the tax on capital gains has to be paid according to the ready reckoner at least.