Punjab records 78 percent rise in income from land-property registries in March

Punjab records 78 percent rise in income from land-property registries in March

Chandigarh: Due to the pro-people policies of Chief Minister Bhagwant Mann, a record income has been recorded from the land and property registries in the state during the month of March 2023. Compared to March 2022 there has been a record 78 percent increase in income in March 2023. Revenue Minister Bram Shanker Jimpa said that Chief Minister Bhagwant Mann has decided to exempt 2.25% stamp duty and fees to those registering their property/land in the month of March, i.e. from March 1 to March 31, 2023.  Due to this decision, people across the state showed great interest in getting land and property registries done.

Jimpa said that in the month of March, Rs. 658.69 crore  have been credited to the state treasury from land and property registries, while in March 2022 this income was Rs. 369.61 crore. Compared to the previous year, this income is 78 percent more. He said that during the 11 months from April 2022 to February 2023, an average income of Rs. 308 crore per month has been coming to the treasury, while in just one month, i.e. in March 2023, this income was more than doubled.

The Revenue Minister said that even during April 2023, more income is likely to fill the treasury of Punjab than the previous months because the CM has extended exemption of 2.25% stamp duty and fees till April 30, 2023. He further said that in the month of April, after harvesting the crop, farmers show interest in  land-property registration and they will be able to take advantage of the decision taken by CM Bhagwant Mann regarding stamp duty and fee exemption.

Notably, 1% Additional stamp duty, 1% PIDB fees and 0.25% special fees have been exempted for registering any kind of land property till April 30, 2023.

Jimpa said that providing transparent, hassle-free and corruption-free services to the people of Punjab is the main goal of the government led by CM Bhagwant Mann and due to this, the income of the state is continuously increasing. He has appealed that people should cooperate with the government to strengthen the treasury of the state and stop corruption completely. He urged people to not give bribe to any officer/employee for any work and if any official of the revenue department asks for money in exchange for work, they must lodge a complaint. The perpetrators will not be spared under any circumstances.