NOIDA — The Stamps and Registration Department in Noida recorded a significant 18% year-on-year increase in revenue collection during the 2024-25 fiscal year, totaling Rs 4,230 crore.
This is the highest revenue figure in the past 10 years, surpassing the previous year’s collection of Rs 3,575 crore, as reported by The Economic Times.
The department also registered 18,405 flats in FY25, which included 12,000 flats in projects that had been stalled due to legacy land dues. AIG (Stamp and Registry) B.S. Verma revealed that the department had set a target of Rs 4,880 crore in revenue for the year, achieving 86% of this target.
In comparison, the department had fallen short of its targets in previous years. For FY 2022-23, the set revenue target for Noida was Rs 4,062 crore, but only Rs 3,018 crore was collected, or 74% of the target. In FY 2023-24, the department collected just over 75% of its Rs 4,728 crore target.
Verma attributed the rise in revenue to an increase in property registrations, particularly in stalled group housing projects. This boost followed the Uttar Pradesh government’s two-year zero-period waiver under its rehabilitation package, which was rolled out on February 26, 2024.
To further encourage property registrations, the department kept offices open on weekends throughout March. On March 30, the last Sunday of the month, 459 properties were registered, contributing Rs 17.23 crore to the total revenue.
In the past decade, Noida’s Stamps and Registration Department has only exceeded its revenue target once — in 2015-16 — when it collected Rs 2,006 crore against a target of Rs 1,875 crore, achieving 107% of the goal.
However, the department faced challenges in FY 2020-21 due to the COVID-19 pandemic, collecting just 50% of its Rs 3,148 crore target, amounting to only Rs 1,593 crore, the lowest revenue in the past 10 years.