Gujarat had a very good year for property registrations, at least on the revenue front.
According to reports, Gujarat enjoyed revenue up to Rs 19,102.58 crore in registration fees and stamp duty in 2025-26.
That is a 30% increase. Compared to Rs 14,706 crore the previous year, it’s a mammoth jump of Rs 4,400 crore.
However, the scenario is not quite upbeat where property registrations are concerned.
The number of documents registered reportedly rose from 18.77 lakh in 2024-25 to 18.95 lakh in 2025-26, a marginal increase. More money came in, but not from more transactions. Properties were simply worth more.
The jantri effect
Officials point to one key reason: the doubling of jantri rates in 2023-24. Experts believe the numbers told the story clearly. Modest growth in registrations, but a sharp jump in actual collections.
Jantri rate in Gujarat lists the unit pricing of land and property determined by the State government.
The final collection also came close to the state government’s own target of Rs 19,800 crore for the year.
Who led, who lagged
Ahmedabad was, as expected, out in front. The district reportedly recorded 3,76,859 property registrations and generated Rs 4,379.51 crore in stamp duty and fees, topping the state on both counts.
Surat came second with 2,89,544 registrations.
Rajkot, Vadodara and Gandhinagar clocked 1,54,211, 1,32,475 and 1,04,175 respectively.
Dang, at the other extreme, saw just 43 registrations, the lowest anywhere in Gujarat.
Demand holds, but cracks appear
CREDAI Gujarat president Tejas Joshi told a section of the media that the market had been firing on most cylinders. He said strong demand had held across residential, commercial, and industrial segments over the past few years, with a significant number of projects delivered and sale deeds executed.
He also noted that the Commonwealth Games announcement had triggered several high-value land deals. Collections, he said, should stay healthy.
But not everyone is reading the numbers the same way.
Real estate experts pointed out that many of the sale deeds registered in 2025-26 were tied to deals struck in earlier years. The pipeline may not be as full as the figures suggest.
They also flagged recent GujRERA data showing new project registrations had fallen to their lowest since the Covid-19 pandemic.
