Pune: The state’s registration and stamps department has collected nearly half of its annual revenue target ahead of Dasara, despite no hike in ready reckoner (RR) rates and a steep Rs68,500 crore target for the 2026–27 fiscal year. Official data reveals that revenue collections stood at Rs33,387 crore or 48.74% of the target by Oct 8, primarily driven by a surge in high-value property transactions.With Dasara and Diwali traditionally being the busiest periods for real estate purchases, officials expect collections to swell further. Buyers are actively scheduling registrations on auspicious dates, while developers roll out festive discounts and new project launches.Between April and Oct 8, the department registered 26.22 lakh documents. Revenue for the April–Sept period reached Rs32,607 crore, marking a 16% increase compared to the corresponding period last year. Sept emerged as the strongest month of the fiscal so far, contributing Rs5,972 crore.Officials noted that revenue has grown at a faster pace than the total volume of registrations, highlighting the outsized impact of high-value property deals. The average revenue per document rose to approximately Rs1.29 lakh this year, up from around Rs1.25 lakh recorded in each of the previous two fiscal years.Developers confirmed that the property market continues to exhibit robust demand. “Property registrations across the state are showing encouraging momentum in 2026, reflecting sustained consumer confidence and healthy demand for real estate. While growth varies across regions, major cities remain strong, and tier-2 cities alongside emerging markets are also showing promising traction,” said a senior Credai member.The developer added that rapid infrastructure development, improved connectivity, and heightened economic activity are unlocking new real estate opportunities, ensuring Maharashtra remains a top destination for property investments.Buyers are also leveraging the festive window to close transactions. “It is an auspicious period, and my son has decided to invest in a project during Dasara. We plan to register our flat around that time,” said Shankar Narayanan, a retired govt employee.The department’s collections have improved over the past three years. In 2024-25, it registered 21.06 lakh documents and collected Rs26,234 crore in the first six months, equivalent to 47.7% of its annual target of Rs55,000 crore. In 2025-26, registrations rose to 22.47 lakh and revenue increased to Rs28,075 crore, around 7% higher than the previous year. However, collections accounted for only 44.2% of the higher annual target of Rs63,500 crore.This year, registrations during April-Sept rose 12.7% to 25.31 lakh, while revenue increased 16% to Rs32,607 crore. The department requires an additional Rs35,113 crore by March 2027 to achieve its annual target. Officials are counting on the ongoing festive season and the predictable year-end rush in March to bridge the gap.“Last year, the department fell short of its target. However, with the market remaining buoyant, we expect transaction volumes to increase significantly,” an official stated.
