The Uttar Pradesh stamp and registration department has revealed that Ayodhya saw a rise of over 30% in registrations over the previous year as land deals have reportedly shot up since the construction of the Ram Temple began.
Data accessed by TOI shows that in 2021-22, Ayodhya saw a collection of Rs 10,141 crore as stamp duty and registration fees as against Rs 7,602 crore in 2020-21, a rise of 33%. “Ayodhya is one of more such areas where we have seen stamp duty collections rise over the past year. The rise has coincided with the Ram Temple construction with massive land purchase having taken place in the district for various purposes like hospitality etc,” an official said.
Besides, the department has seen its revenue rise by 20% in 2021-22 over the previous year, collecting close to 80% of the targeted revenue. The rise, say officials, can be attributed to government schemes like development of industrial corridors, Jewar airport etc.
He added that while there was a clear slowdown in collections during the pandemic, in the past financial year, activity picked up in areas like Noida, Greater Noida etc, where investments have been coming in due to development of industrial parks, industrial corridors, the new Jewar airport etc.
In 2018-19, the government had registered an increase of 17% in stamp duty and registration collections over the previous year. Over the next two years, even as targets kept increasing, the collections rose by a paltry 2.2% in 2019-20 and 2.9% in 2020-21. In 2021-22, the collections across the state went up by 20%.
“Against a target of Rs 25,500 crore, the department collected Rs 20,068.81 crore, a 78.7% collection. This is the first time that collections have crossed Rs 20,000 crore in a year,” the official said, adding that this is one of the highest revenue earning departments for the state government.