The Mizoram government collected INR 8.58 crore in stamp duties and land registration fees in the first eight months of FY24, reflecting steady growth following the Indian Stamp (Mizoram Amendment) Bill, 2024, which raised stamp duty from 1% to 3%. This hike targets diverse transactions like land purchases, mortgages, and gifts, aiming to boost state development funds. Key initiatives include plans for a revenue court to address land disputes, expanding the online tax payment system statewide, and digitising land records via the new Record of Rights (RoR). These measures enhance transparency, streamline processes, and support urbanisation and infrastructure growth, positioning Mizoram for increased investment and efficient land management.
The Mizoram government collected INR 8.58 crore in stamp duties and land registration fees during the first eight months of the fiscal year, as reported by Revenue Secretary Vanlalmawia. The update was shared in a progress review meeting chaired by Chief Minister Lalduhoma, focusing on initiatives from the Land Revenue and Settlement and FCS&CA departments. The revenue shows a steady year-on-year increase.
This surge in revenue follows the passage of the Indian Stamp (Mizoram Amendment) Bill, 2024, which the state assembly approved earlier this year. The bill raised the stamp duty on property transactions from 1% to 3%. This increase applies to a range of transactions, including the purchase of land or house plots, bank mortgages, and even gifts. Land Revenue and Settlement Minister B. Lalchhanzova explained that the stamp duty is crucial in generating funds for the state's development.
In the past, Mizoram has seen fluctuations in its revenue generation from these sources. However, the recent hike in stamp duty is expected to significantly increase revenue in the coming years, especially as land transactions are common in the state due to growing urbanisation and infrastructure development.
Additionally, Vanlalmawia shared that the government is exploring the feasibility of establishing a revenue court in Mizoram. This court would aim to handle land disputes more efficiently, potentially reducing the backlog of cases that have historically plagued the state's legal system. The establishment of such a court would also align with the government's ongoing efforts to modernise the land management process.
Another major development is the expansion of Mizoram's online tax payment system. Initially introduced in 2022 in the Aizawl Municipal Corporation (AMC) area, the system has proven to be effective in streamlining tax collection and reducing manual errors. As a result, the government plans to extend the system to all districts starting from the next fiscal year. This will make it easier for residents across the state to pay taxes online, enhancing convenience and improving overall compliance rates.
In parallel, the revenue department is focusing on digitising land records through a new Record of Rights (RoR). This legal document will contain comprehensive details about each land parcel, including ownership information, which will replace the existing Land Settlement Certificate (LSC). The new system will offer greater transparency, reduce the chances of disputes, and simplify the process for land transactions. So far, the department has digitised 3,59,331 RoINR, issued 1,155 digitally signed property cards, and assigned 94,154 land parcel identification numbers.
The shift towards digitisation began several years ago with efforts to modernise the state's land management system, a crucial task as the state faces increased demand for land due to growing economic activities and infrastructure projects. The introduction of the RoR is expected to be a significant step towards resolving land disputes and ensuring that land ownership records are easily accessible, further promoting investment in the state.
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