Telangana: Revenue from stamp duty and registration to cross Rs 15,000 crore
According to officials, the total revenue during the last fiscal year stood at Rs.12,364 crore, whereas, during the current year it has already crossed Rs.9,531 crore.
Hyderabad: Telangana saw its revenue collections from stamp duty and registration charges surging by 40 percent to reach Rs.9,531 crore by the end of the third quarter of the current fiscal year. Revenue officials are expecting to collect over Rs.15,000 crore during the current fiscal year, which is much higher than the projected target, which was Rs.13,000 crore.
According to officials, the total revenue during the last fiscal year stood at Rs.12,364 crore, whereas, during the current year it has already crossed Rs.9,531 crore. In December alone, the revenue collection crossed over Rs.1,100 crore and going by the pace at which the registration of agricultural and non-agricultural properties in the State was taking place, it would easily cross Rs.15,000 crore by the end of March, a senior official of the Registration Department said.
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In the current fiscal year, till December 31, about 14.54 lakh property registrations were done across the State. Of this, 5.63 lakh (39 percent) were agricultural properties, while 8.91 lakh (61 percent) were non-agricultural properties. In December alone, a record high of 1.09 lakh non-agricultural properties were registered.
The government has collected Rs.7,944 crore through registration of non-agricultural properties and Rs.1,587 crore through agricultural properties registration till December 31. As per the data available, the registration of non-agricultural properties has crossed 9.5 lakh and the revenue touched Rs.8,473 crore as on January 21.
The increase in revenue was driven by a general upswing in the sale and purchase of all types of properties and a jump in market value of properties and registration charges, officials said.
The State government has enhanced land values for property registrations from February last year, but even after enhancement of land values, the department is getting about Rs.1,000 crore revenue, on an average every month. A major share of revenue comes from Rangareddy district areas, especially Gachibowli, Serilingampally, Kondapur, Madhapur, Hafeezpet and Khajaguda.
