Western UP ahead in stamp revenue collection
THE NATIONAL Capital Region (NCR) has turned out to be a goldmine for the Department of Stamp and Registration in the State. While poor urbanisation continues in central and eastern UP, Western UP and particularly NCR comprising Noida, Greater Noida, Ghaziabad and Meerut, have shown remarkable growth leading to collection of 60 per cent stamp revenue from the region.india Updated: Sep 25, 2006 00:46 IST
THE NATIONAL Capital Region (NCR) has turned out to be a goldmine for the Department of Stamp and Registration in the State. While poor urbanisation continues in central and eastern UP, Western UP and particularly NCR comprising Noida, Greater Noida, Ghaziabad and Meerut, have shown remarkable growth leading to collection of 60 per cent stamp revenue from the region.
Talking to HT, IG (Stamps and Registration) Sunil Kumar said revenue growth had been registered despite loss of Rs 300 crore due to the State Government’s largess to various sectors. Referring to revenue loss in special economic zones, Sunil Kumar said there would be no stamp duty in the first hand sale but market rate would be charged in second hand deal. “We will be able to cover the losses,” the IG said.
While in the last fiscal the total revenue collection was Rs 3194.79 crore, the department had so far collected Rs 1920.79 crore during the current fiscal. He said the target for 2006-07 was Rs 4500 crore. Sunil Kumar attributed buoyancy in stamp revenue to 15 per cent hike in circle rate and increase in number of registration documents in various sectors.
However, he pointed out that 22 districts of western UP were far ahead in urbanisation than 12 districts of central UP comprising Kanpur, Lucknow divisions and 29 districts of eastern UP.
If 60 per cent stamp revenue collection from western UP is any indication of development, the other parts of the State continued to lag behind in development. While central and eastern UP contributed 27 per cent revenue, with just 3 per cent collection, Bundelkhand presents a dismal picture. “It amply reflects the growth scenario of the region,” the IG commented.
High land prices in NCR have boosted the fund generation in the department. In one land deal, the revenue collection was Rs 144 crore. Moreover, the smashing of ‘Telgi fake stamp’ racket could also be one of the reasons for increase in revenue earning, as in 2000 fake stamps worth Rs 5000 crore were in circulation in the State. However, Sunil Kumar disagreed with the suggestion.
In 2000-01, the total revenue was Rs 1264.01 crore, which touched Rs 2681.48 crore in 2004-05.
The IG said moves were afoot to improve the services in the department. Besides state-wide computerisation process, website would be launched in October. He said on the website, the customer would be able to get circle rate details of every area and thereby he would be able to calculate the cost of stamp paper. “It is going to be a revolutionary step in the State,” the IG claimed.