Demonetisation Impact: Noida Stamp Duty Department Incurs Loss In Revenue

Ashish Kedia

(11/04/2017) Noida : Gatam Buddh Nagar stamp and registry department has fallen short of about INR 462.2 Cr from its annual target in financial year 2016-17.

In comparison to its pre-fixed target of Rs 2,223.6 crore, the department could only collect Rs 1,761.4 crore in between April 2016 to March 2017.

There has been a downfall in number of people applying for registry or opting for stamp duty since after demonetization. Authority even accepted old notes till December 15, 2016 to battle Demonetization woes but the offer could not attract many takers.

In the previous financial year cycle the department had generated 2006.76 crore rupees in revenue.