Since there has been slowdown in the registration of layouts and projects under the Real Estate Regulation and Development Act (RERA). It has resulted in a dip in collection of stamp duty and revenue loss to the government.

A sound amount of income was collected from stamp duty by the local bodies which has notably fallen from last year.

Though RERA was introduced to bring transparency in the real estate sector among builders and homebuyers, still delays have not been addressed at government’s level.

RERA has caused severe loss of revenue because of fall in the collection of Goods and Services Tax (GST).

Source: The Hindu