Patna Municipal Corporation (PMC) has proposed to increase its share in registration of property from 2 per cent to 5 per cent. The proposal is likely to be sent to the state government, if it is approved by the corporation board at its meeting on March 31.

Sources said the district registration department collects 8 per cent stamp duty and 2 per cent court fees in course of registration of plots and flats. The department pays 2 per cent of the amount to the civic body for each registration.

“To ensure greater revenues, the civic body wants the sum to be more than doubled. Before Patna Regional Development Authority’s merger with PMC, the corporation’s share in the stamp duty was 5 per cent. But it was reduced to 2 per cent, which resulted in huge losses for the civic body,” said a senior PMC official.

The civic body at present earns around Rs 40 crore from stamp duty every year. The new capital circle of PMC got Rs 5 crore in its kitty in the last quarter of the 2011-2012 financial year, while the Patna City area has seen a collection of around Rs 2.5 crore during the same period.

“The proposal has been approved by the PMC empowered standing committee. The government will take the final decision once the board gives its nod to the proposal. If the PMC gets half of the stamp fee collected by the registration department, it will be a huge boost to our revenue,” the official added.

At present, Boring Road, Frazer Road, Exhibition Road and Dak Bungalow Road are counted under Zone I where the registration charge for flats is Rs 1,800 per sqft. At Digha, which falls under Zone-II, the rate is Rs 1,100 per sqft on main roads and Rs 900 per sqft on branch roads.