NAGPUR: In the previous financial year (2025-26), Nagpur city’s stamp duty collection on property transactions reached over Rs 1,700 crore, falling short of the Rs 1,900 crore target by approximately 9%. The overall value of transactions for the fiscal year ending March 31 amounted to over Rs 24,000 crore, with a 7% stamp duty applied. More than 11 lakh deeds were registered in that period.
The state government’s decision to maintain the ready reckoner rates unchanged for the current financial year (2026-27) aims to stimulate property purchases, potentially increasing stamp duty collections as a result.
The stamp duty target was set at Rs 1,800 crore for the 2024-25 fiscal year, which was also not achieved. Notably, ready reckoner rates saw an average increase of 5% during the 2025-26 fiscal year. The ready reckoner serves as a government valuation of property prices in specific areas; therefore, even if a property is registered at a lower price, stamp duty is calculated based on the ready reckoner schedule.
Stamp duty is paid by the property buyer, with targets established based on trends in property transactions and price appreciation. In 2025-26, the collection from Nagpur’s rural areas amounted to Rs 556 crore, falling short of the Rs 600 crore target. Sources indicate that the shortfall in stamp duty collections may be linked to a slowdown in real estate transactions. Ready reckoner values are also considered when calculating capital gains tax, mandatory even if a property is sold for less than its declared price.
