Curation Team
NOIDA: Stamps and registration department has seen an 18% year-on-year increase in revenue collection in the 2024-25 fiscal year, mopping up Rs 4,230 crore compared to the previous year’s Rs 3,575 crore. This is the highest revenue to be collected in 10 years. The department also registered 18,000 flats, of which 12,000 were in projects stalled over legacy land dues.
AIG (stamp and registry) B S Verma said the department set an annual revenue target of Rs 4,880 crore and collected 86% of the amount.
Noida gets an ambitious revenue target every year compared to other UP districts, the official said. In FY 2022-23, UP set a revenue target of Rs 4,062 crore for the district, of this, the department collected Rs 3,018 crore, which is 74% of the target. In FY 2023-24, the department collected a little more than 75% of its Rs 4,728-crore target.
Verma attributed the higher revenue collection to the rise in property registration, including flats in stalled group housing projects, after builders were extended a two-year zero-period waiver under UP govt’s rehabilitation package. The scheme was rolled out on Feb 26, 2024.
“The department registered 18,405 flats in the 2024-25 financial year, which included 11,991 flats under legacy stalled projects. In FY 2023-24, a total of 15,527 flats were registered,” he said.
Offices were kept open on weekends to encourage registration of flats and other properties throughout March. On March 30, the last Sunday of the month, the department registered 459 properties and collected Rs 17.23 crore.
Data shared by the department shows that, in the last 10 financial years, Noida’s stamp and registration department exceeded its revenue target only once, in 2015-16 when it collected Rs 2,006 crore against the Rs 1,875-crore (107%) target. Due to Covid pandemic, revenue collection took a hit in 2020-21. It collected just 50% of the Rs 3,148-crore target at Rs 1,593 crore, the lowest in the 10 years.
