Nagpur Misses Stamp Duty Target by ₹125 Cr in FY25 – Experts Cite Slow Transactions, Modest Rates

Nagpur's stamp duty revenues for FY 2024–25 closed at ₹1,675 crore—falling short by about 7% against the government’s set target of ₹1,800 crore. This performance has drawn attention to underlying trends in the local property market and tax policy execution.

Weak Real Estate Activity Weighs Down Revenue

According to officials, the shortfall is largely attributed to slower-than-anticipated real estate transactions. Property sales across the city reportedly did not pick up to the expected level, affecting stamp duty inflow directly.

Ready Reckoner Rates See Only Moderate Hikes

Another factor influencing the revenue dip was the relatively modest rise in ready reckoner rates over recent years. These government-notified rates, used to determine minimum property values for stamp duty purposes, had been raised only by 4% to 5% in the past few fiscal cycles—limiting the potential for higher collections.

Rural Regions Also Fall Behind

Stamp duty performance in areas beyond municipal limits also failed to meet projections. Revenue from these rural belts stood at ₹559 crore, 3% below the revised target. Officials clarified that even though rural targets were increased mid-year, collections could not keep pace with expectations.

Optimistic Outlook for FY 2025–26

For the ongoing financial year, officials expressed optimism. The ready reckoner rates have been raised by up to 10% in specific zones, which is expected to positively impact revenue performance. Authorities are hopeful that this adjustment will help align collections more closely with targets in FY 2025–26.

Disclaimer: This news article is a rewritten and reformatted version based on publicly available reports and is intended for informational purposes only. Real estate trends and policy decisions are subject to change and should be verified with official sources.