Indore tops in generating revenue from property registration

Indore: Madhya Pradesh’s earnings from stamp duty and property registrations rose by nearly Rs 211 crore or 12.82 percent in the first two months of the current fiscal, with higher guideline values and rising property prices boosting collections even as growth in transaction volumes remained modest.

Indore accounted for the highest revenue among major districts, followed by Bhopal and Gwalior. The district generated Rs 328.45 crore in revenues, ahead of Bhopal’s Rs 239.75 crore and Gwalior’s Rs 120.81 crore. It generated the revenue from 25,405 property transactions, compared with Rs 302.18 crore from 23,261 documents a year ago. Revenue collections in the district rose 8.69 percent.

Data from the registration department showed that the state generated Rs 1,843.54 crore through stamp duty and registration fees from April to May in FY 2026-27, compared with Rs 1,632.86 crore in the corresponding period last year. The number of registered documents increased by 4 per cent to 2.23 lakh from 2.14 lakh.

“The growth in revenue has been impressive. In the first two months of the current financial year, the department collected Rs 1,843.54 crore against Rs 1,632.86 crore in the same period last year, while the number of registered documents increased to 2.23 lakh from 2.14 lakh,” said stamp and registration department inspector general Amit Tomar.

After Indore, Bhopal recorded one of the sharpest increases among major districts in the last two months, with collections rising 24.82 percent to Rs 239.75 crore from Rs 192.08 crore. Registrations in the district increased to 15,774 documents from 14,041.

Gwalior posted revenue growth of 24.77 per cent to Rs 120.81 crore despite a decline in transaction volumes, with the number of registered documents falling to 9,556 from 10,444. Jabalpur recorded collections of Rs 96.78 crore, up 8.9 per cent from Rs 88.87 crore, while registrations remained almost flat at 6,689.

Ujjain generated Rs 67.43 crore in revenue, an increase of 17.92 percent over Rs 57.18 crore collected during the same period last year, although the number of registered documents dipped to 10,448 from 10,938.

CREDAI Madhya Pradesh president Dheeresh Khare said the jump in collections was much higher than the increase in registrations. “The number of documents registered has not increased significantly compared to last year. Higher guideline rates have pushed up revenues. Also, with gold prices touching record highs, many investors are considering property as an alternative investment,” he said.

The data showed that revenue growth across the state far outpaced the increase in transaction volumes, indicating higher average ticket sizes in the property market.