It is predictable that, in 2009-10, properties worth around Rs15,000 crore were sold in the city on paper (i.e., officially). If Rs880 crore is assembled as revenue when the stamp duty is 5.9%, then it pursues that real estate worth almost Rs15,000 crore (Rs14915.25 crore to be exact) was sold. “The state stamp and registration department has accumulated Rs780 crore in the present economic (till February 2010) and is probable to gather another Rs100 crore by March-end,” announced a source in the Gujarat government. “The whole revenue produced through stamp duty would then come to Rs880 crore.
If the revenue composed by the state government as stamp duty on property deals this financial is any signal, Ahmedabad realty has appear of slump. Figures for income collected as trample duty point out that, between April 1, 2009 and March 31, 2010, properties worth Rs25,000 crore were sold in Ahmedabad. Till February-end this economic, the state government had gathered around Rs780 crore as stamp duty. The government is probable to assemble an extra Rs100 crore by March 31. The Gujarat government levies 5.9% stamp duty on real estate transactions. Ahmedabad district only is probable to generate revenue of Rs880 crore from stamp duty this fiscal year.