Khammam: Despite some glitches at sub-registrar offices in this district, the revenue from the registration department on property registrations has witnessed a hike. This is thanks to the increase in rates on stamp fee and land prices as per the revenue department orders effective from July 22 this year.
About 2,877 property registrations were done from August 1 to 18 in 11 sub-registrar offices and the Khammam registrar office. From these, the government obtained a revenue of Rs 12.15 crore in 18 days. The expected revenue for August is Rs 21 crore.
Prior to the rate hike, the average revenue per month through land registrations and sale of stamp deeds was around Rs13 crore. As compared to the past records, the revenue increase is at a high of 61 per cent.
The state government has revised land rates in the registration department by 50 per cent of the prevailing rates for non-agricultural properties and 100 per cent for agricultural properties.
Notably, there was no revision for the last eight years. The land rates were increased in Telangana the last time in 2013.
About 805 property documents were registered in Khammam registrar office in the last 18 days this month, netting a revenue of Rs 4.46 crore. The Yellandu sub-registrar office had 178 registrations, which earned Rs 1.66 crore to the exchequer, while the Kothagudem sub-registrar office had 275 registrations and an earnings of Rs 1.63 crore.
The Kusumanchi sub-registrar office got Rs 1.11 crore from 676 registrations.
The registration offices have glitches that affected the revenue. The properties bought with bank loans are not being registered in Khammam registrar office as a franking machine there is defunct. The machine’s job is to evaluate the registration price, for those who want such a certificate to be submitted to banks for loans. With this, those who want to buy properties via taking bank loans are unable to do the registrations and transactions are being postponed.
Secondly, the people are still reeling from the adverse effects of the Covid19 pandemic and hence are not doing property transactions. The companies in the real estate business are waiting for better times ahead.
Mani Kumar, a stamp writer, said that after the slump, the registrations were better in the last ten days. “The revenue will touch Rs 35 crore per month after two months, if the present trend continues."
Those who got compensation under the Polavaram, Sitaramasagar Lift Irrigation Project and other such projects are trying to invest the money on farm lands and house plots. The new infrastructure facilities like widening of roads and availability of parks are also raising the demand for house plots in Khammam,'' he said.