Property registrations see recovery in Telangana
Government earned Rs 4,980.45 cr from April till October 4 this financial year
Hyderabad: Covid pandemic blues gradually seems to be dissipating with many land owners coming forward to carry out their transactions pertaining to registration of agriculture and non-agriculture properties in the State. In all, the government got Rs 4,980.45 crore revenue from April till October 4 this financial year, according to officials.
As many as 1.66 lakh registrations of agriculture and non-agriculture properties including residential and commercial buildings took place at 141 Sub-Registrar Offices (SROs) in the State in April 2021 generating revenue of Rs 716.89 crore. But when second wave of the pandemic set in followed by implementation of lockdown from May 12 to contain the spread of the virus, the transactions at the SROs were badly affected.
When lockdown was lifted from June 20, activity picked up at the SROs with a majority of property owners completing registration of their properties pending since May first week.
The registrations dropped to 43,000 in May due to lockdown and the exchequer could only get Rs 234.5 crore revenue in May. However, the months of June and July witnessed a healthy recovery with SROs registering record transactions – 1.69 lakh in June and 2.2 lakh in July.
The records of Telangana Stamps and Registrations Department show that it got Rs 674.43 crore and Rs 1,201.86 crore in June and July respectively. The registrations, however, hovered between 1.61 lakh and 1.66 lakh in August and September respectively. The department registered a revenue of Rs 922.72 crore and Rs 1,088 crore in August and September respectively.
The revenue in August and September increased as the State government revised the registration charges from July last week. Officials said if the transactions continue in the same manner, the department, which saw a sharp decline in 2020 on account of Covid-19 can expect more revenue.
Officials are hopeful of registrations of agriculture and non-agriculture properties going up because of auspicious days in October and November.
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