Stamp duty collection in Delhi increases by 262 percent

New Delhi, July 7 (IANS) The coffers of the cash-starved Delhi government have received a massive boost from a record stamp duty collection, which has increased by over Rs.300 crore in the three months from April to June this year as compared to the corresponding period last year.

Revenue Minister Raj Kumar Chauhan said the stamp duty collection in the first quarter of 2010-11 was Rs. 532.49 crore as against the 2009-10 figure of Rs.202.94 crore, an increase of 329.55 crore.

Chauhan said that Rs.67.88 crore was collected as stamp duty in April 2009-10, which during the corresponding period this year has increased to Rs.145.33 crore, the hike of 214 percent.

While Rs.69.93 crore was generated in May, 2009-10, the stamp duty collection in the same month this year was 153.18 crore.

The month of June saw an increase of nearly 359 percent in the tax collection, with the collection of Rs. 233.77 as stamp duty compared to Rs.65.13 crore last year.

Stamp duty is a tax that is levied on documents related to land and property.

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