Punjab to hike collector rates in major cities, targets ₹7,000 crore from stamp duty
Deputy Commissioners will propose new rates to bring them closer to market prices.
- Revised rates expected in Q2 of the fiscal year
- Target: ₹7,000 crore from stamp duty and registration, up from ₹6,200 crore in 2024-25
- Third increase since 2022
- Aim: narrow the gap between market and collector rates
The Punjab government plans to raise collector rates in major cities, with revised rates expected to take effect in the second quarter of the fiscal year.
The state aims to collect ₹7,000 crore in stamp duty and registration charges this year, up from ₹6,200 crore in 2024-25. Finance Minister Harpal Cheema said Deputy Commissioners would submit proposals to bring collector rates on a par with market rates.
This is the third increase since 2022. The government says the aim is to close the gap between market and collector rates and reduce black money in property deals.
What it means for buyers
Higher collector rates raise the minimum value on which stamp duty is paid, so registry costs go up even if your deal price doesn't change.
Sources
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