Despite pandemic, June witnesses record land transactions in Telangana

One of the state’s huge money spinners, the department did a record-breaking collection during the otherwise rainy days

HYDERABAD: Though the pandemic has dented the state exchequer like never before, the month of June seems to have brought cheers to the stamps and registration department. One of the state’s huge money-spinners, the department did a record-breaking collection during the otherwise rainy days.

Ironic it may sound, but people did not hesitate to spend money even in the worst Covid situation to purchase assets while some others sell their properties to make money. Though realtors and builders were worried about their businesses due to Covid-19 and the following lockdown in the state, June proved their apprehensions uncalled for.

The figures show that the coronavirus failed to make a big impact on the rich and the mighty. The virus continued to spread in May, and the number of registrations dropped due to the announcement of lockdown, however, there were still close to 40,000 transactions in the month. In June, records were broken.

There were a total number 2,00,000 registrations of agricultural and non-agricultural assets in June in the state. Despite the adverse conditions, the government received the expected level of revenue. The boom in real estate business has become a topic of discussion even in times of fear of coronavirus. Property sales are booming in all districts across the state.

The offices of the sub-registrars and tahsildars under the Hyderabad Metropolitan Development Authority (HMDA) are full of activity with people buying and selling lands and other properties.

It is rumoured that the sales will double this month. The government will increase the value of registrations and registration fees from August 1 as per the recommendations of the Cabinet sub-committee which is likely to submit a report to Chief Minister K. Chandrashekar Rao within one to two days.

There is a talk doing rounds in the market that registration charges may be almost doubled compared to the present tariff. Sub-registrars and tahsildars are said to be expecting all potential buyers to complete registrations within this month.

Land transactions in June

Item applications completed
Registrations / Mutations 84,047 75,901
Virasath 6,229 5,328
Part distributions 251 209
Pending mutations 12,747 12,669
Nala Conversions 3,023 2,608

Land transactions in May

Item applications completed
Registrations / Mutations 19,793 17,419
Virasath 1,787 1,528
Part distributions 52 44
Pending mutations 3,730 3,712
Nala Conversions 931 785

Non-agricultural asset transactions in June

Registrations: 91,771

Revenue through registrations: Rs.1186.94 crore

Booked slots: 58.735

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