Thiruvananthapuram: State government’s revenue from stamp duty and registration fee that suffered a steep fall of about 85 per cent following demonetisation has of late shown signs of recovery.
While revenue from the streams in November 2015 was Rs. 183.6 crore, it came down to Rs 150.4 crore in 2016. It slightly improved to Rs. 188.57 crore in December, though still behind Rs 210.93 crore of December 2015, a report of the registration department said.
The report said land registration came down by about 50 per cent immediately after demonetisation of Rs 500 and Rs 1000 notes was effected. The average daily revenue from stamp duty and registration fee during November 3 to 8, 2016 was Rs. 9.4 crore, which came down to Rs. 1.49 crore on November 9, the day after declaration of demonetisation.
The numbers started increasing gradually from November 10 when it increased to Rs. 3.17 crore. It was Rs. 4.51 crore on Novemeber 11 and Rs. 5.47 crore on November 14, which was the next working day.
“The trend indicates that the real estate sector was mainly flourishing with cash, a part of which was out of the banking system,” said advocate and RTI activist D.B. Binu who obtained the report.
