Maharashtra registration dept achieves revenue of Rs 23,527 cr, eyes annual target


The Department of Registration and Stamps in Maharashtra has reported a robust revenue collection in the first half of the year, positioning it to reach its annual target. Data released by the state revenue minister’s office reveals that the state exchequer has received a total of Rs 23,527 crore from 14,58,661 document registrations up to October 12.
The department has set an annual target of Rs 45,000 crore for the financial year 2023-2024, and it has already accomplished 52% of this objective.
Consistently surpassing its targets in recent years, the department collected Rs 44,669 crore in the preceding year 2022-23, exceeding the Rs 32,000 crore target. In 2021-22, it collected Rs 35,171 crore, surpassing the targeted Rs 29,000 crore by 121%.
Experts attribute this success to the city’s growing demand, particularly over the past few years, in parallel with the development of connectivity infrastructure throughout the city.
The digital transformation of the revenue department has played a significant role in achieving these impressive figures, according to Minister for Revenue, Radhakrishna Vikhe Patil. He added that future plans include a phased upgrade of registration offices to further enhance their efficiency and revenue collection capabilities. The Department of Registration and Stamps plays a pivotal role in property registration, encompassing land registration, leave and licenses, power of attorney, wills, transfer of leases, and other responsibilities.