Punjab is witnessing a steep fall in income from stamp duty and registration fee for property in the current financial year, viz 2009-10. Total collections as on January 31 stand at Rs 1,263.33 crore, much behind the set target of Rs 2,000 crore set for the current financial year.In 2007-08, the state exchequer earned Rs 1,619.29 crore from the collections. In year 2006-07 had earned Rs 2019.97 crore.
With no takers for the sites auctioned by the state in the last few months, there has been a consistent decline in the revenue earned by the state exchequer from these two sources.In the last few years, during the real estate boom, the state government had sold sites at considerably high rates during the auctions in various parts of the state. This also led to robust collections of stamp duty and registration fee.
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