Madhya Pradesh has recorded strong growth in revenue generated through stamp duty and property registrations during the first two months of the 2026-27 financial year, reflecting the continued strength of the state’s real estate market. According to data released by the state’s registration department, total collections rose by 12.82% year-on-year to ₹1,843.54 crore between April and May 2026, compared to ₹1,632.86 crore during the corresponding period last year.
The increase in revenue significantly outpaced the growth in property transactions, indicating a rise in average property values and transaction sizes across the state. While the number of registered documents increased by a modest 4%, from 2.14 lakh to 2.23 lakh, revenue collections grew by more than ₹210 crore.
Among all districts, Indore emerged as the highest contributor to the state’s property registration revenue. The city generated ₹328.45 crore from 25,405 property transactions during the two-month period, compared to ₹302.18 crore from 23,261 registrations in the same period last year. This represents an 8.69% increase in revenue collections, reinforcing Indore’s position as one of Madhya Pradesh’s most active and mature real estate markets.
Bhopal secured the second position with revenue collections of ₹239.75 crore, registering a substantial growth of 24.82% over the ₹192.08 crore recorded a year earlier. Property registrations in the state capital also increased significantly, rising from 14,041 documents to 15,774.
Gwalior reported one of the highest growth rates in revenue collections among major cities. Revenue increased by 24.77% to ₹120.81 crore despite a decline in transaction volumes. The number of registered documents fell to 9,556 from 10,444 during the same period last year, suggesting higher-value transactions contributed to the revenue surge.
Other major urban centres also posted healthy growth. Jabalpur generated ₹96.78 crore in revenue, up 8.9% from ₹88.87 crore, while registration volumes remained largely stable at 6,689 transactions. Ujjain recorded collections of ₹67.43 crore, marking a 17.92% increase over the previous year, although transaction numbers declined slightly from 10,938 to 10,448.
Stamp and Registration Department Inspector General Amit Tomar attributed the strong performance to rising property values and sustained market activity. He noted that while registration volumes witnessed moderate growth, revenue collections showed a much stronger increase, highlighting the appreciation in property prices across the state.
Industry experts believe higher guideline values have played a major role in boosting government revenues. According to Dheeresh Khare, President of CREDAI Madhya Pradesh, rising property prices and growing investor interest in real estate have supported market momentum. With gold prices remaining at elevated levels, many investors are increasingly viewing real estate as an attractive alternative asset class.
The latest figures underline the resilience of Madhya Pradesh’s property market and suggest continued demand for real estate investments across key urban centres, with Indore maintaining its lead as the state’s top revenue-generating district for property registrations.
