Pune and Pimpri-Chinchwad Contribute Around Rs 3,000 Crores to Government Treasury in Current Fiscal Year
Pune and Pimpri-Chinchwad have emerged as key contributors to Maharashtra's revenue in the ongoing fiscal year, generating an impressive total of around three thousand crores, according to recent data from the Registration and Stamp Duty Department. The region's thriving real estate market, driven by factors such as the anticipated international airport development, expansive metro project, circular road initiatives, and growth in the IT and industrial sectors, has led to over 106,000 property transactions and a revenue of three thousand crores within the first five months of the fiscal year. With an ambitious revenue target of 8,500 crore rupees set for the year, the department has already achieved nearly half of this goal, highlighting its significance as the state's second-largest revenue generator post-Goods and Services Tax implementation.
The dynamic urbanization in Maharashtra's periphery, particularly in areas adjacent to urban boundaries like Pune, has fostered a booming real estate landscape. Pune's prominence is underscored by the registration of over 69,000 cases generating 1,570.49 crores from April to June, followed by 25,229 cases and a revenue of 873.26 crores in July, with August witnessing more than 20,000 cases and a revenue of approximately 550 crores. These revenues play a crucial role in funding ambitious state projects, ranging from infrastructure development to irrigation, airports, and metro networks, reflecting the government's keen focus on the registration department's generated revenue data for targeted fund allocation.
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