THIRUVANANTHAPURAM: If 'one nation one registration' system announced in Union Budget is implemented, it may adversely affect the revenue of the state. The registration department is now the second largest revenue earner in the state. With two months remaininig before the end of the current financial year, Rs 3,313 crore has reached the exchequer through stamp duty and registration fees. If the registration fee is consolidated, the revenue will fall sharply. Currently, Kerala has the highest stamp duty in the country. Eight per cent of the fair value of the land. A two per cent registration fee must also be paid.

With the advent of consolidation,the eight per cent fee will be reduced. The central government has proposed five per cent before consolidation. In many states like Tamil Nadu and Manipur, the stamp duty is less than five per cent. Before 2010, the stamp duty was 13.5 per cent of the value of the property and the registration fee was 2 per cent. But during land dealings, the govt didn't receive the actual revenue as the proper amount was not mentioned during registration. This changed with the introduction of a fair price for land and led to a sharp rise in the revenue of the registration department.

Revenue of registration dept in previous years(in crores):

2018-19 ...... 3316.08

2019-20 ...... 3239.29

2020-21 ...... 3130.32

2021-22 ..... 3313.80

Land transfer is unified by the National Generic Document Registration System. With this implementation, land registration can be done from anywhere in the country. Entrepreneurs do not have to pay a huge stamp duty-registration while buying land.