Punjab eyes record stamp duty collection

CHANDIGARH - Revenue collection from stamp duty in Punjab is likely to touch a record Rs.25 billion this financial year, an official said here Sunday.

Financial Commissioner (Revenue) Romila Dubey said here that due to a series of steps taken by the revenue department, the stamp duty collection was all set to touch Rs.25 billion in 2010-11 as compared to Rs.14.3 billion in 2009-10.

She said that focus of the revenue department was to minimize the discretion of the registration authority in property deals by rationalizing collector rates, notifying collector rates for each zone and educating the public.

She said that the revenue department was all set to utilise new software for registration of property from Jan 1, 2011.

She said that a standardized property registration document had also been drafted by the department.