Telangana govt earns windfall revenue from non-agri property transactions

HYDERABAD: Telangana has witnessed a steep rise in the number of non-agricultural properties registered in the first ten months of the current fiscal, resulting in windfall revenues. The surge was attributed to an increase in sales of flats, independent houses, villas, and plots, particularly in Hyderabad and nearby areas.

According to data obtained from the stamps and registrations department, the government earned Rs 7,944 crore through non-agriculture property registrations April-December, and farm land registrations garnered Rs 1,587 crore. Overall, the state government earned Rs 9,531 crore.

Last year, the government earned Rs 10,097 crore from non-agri and agri property registrations for 2021-22, while this year the government has reached the Rs 10,000 crore mark by December 31. With three months left, the government hopes to exceed the Rs 15,600 crore target estimated in the Budget by March 31.

December 2022 saw the most property transactions in a single month. While the state registered a total of 14.53 lakh property sales from April to December, the largest number of transactions, 1.09 lakh, were in December.

Non-agriculture properties accounted for 8.91 lakh (61 per cent) of the 14.53 lakh property sales, while agricultural properties accounted for 5.63 lakh (39 per cent).

Ranga Reddy district's district sub-registrar offices alone have contributed Rs 3,911 crore this year so far, while Medchal district has contributed Rs 2,421 crore.

The Hyderabad zone generated Rs.889 crore, while Hyderabad South brought in Rs 795 crore.

The sub-registrar offices at Maheshwaram, Serilingampally, Rajendranagar, Shamshabad, and Chevella in Ranga Reddy district saw the highest number of property transactions in the state.