Hyderabad: Despite a number of elections in the past seven months, the stamps and registration department has collected an all-time high revenue of Rs 5,357.37 crore for 2018-19, an increase of 28 per cent over the previous year.
As a result of the real estate boom in and around the state capital, the department garnered Rs 1,816. 77 crore from Ranga Reddy district, Rs 1,211.9 crore in Medchal-Malkajgiri and Rs 452.80 crore from Hyderabad district.
The department earned Rs 1,448.73 crore through the sale of apartments and Rs 1,719.65 crore through the sale of independent houses in and around Hyderabad. It collected Rs 1,367.29 crore through open plots, Rs 1,174 crore from agricultural lands and Rs 750 crore through non-registration charges.
The department collected Rs 6,612.75 crore which included tax pertaining to local bodies. It got about Rs 1,100 crore from local bodies and generated Rs 750 crore through non-registration charges which included revenues generated by the sale of stamps used by insurance companies, bonds in case of banks and for affidavits in courts.
A department official claimed that due to the lack of trust in banks, property owners withdrew cash and invested them in buying properties including flats, plots and agricultural land.
The department has registered 5,41,621 open plot documents, 2,60,042 independent house documents, 1,06,688 documents pertaining to apartments, 5,91,000 agricultural land documents and 5,81,615 non-agricultural land documents. The department has registered as many as 15,12, 468 documents in 2018-19.
Stamps and registration department inspector-general T. Chiranjeevulu said the state had not seen a real estate boom between 2006-07 and 2014-15 due to the statehood agitation. The department did not hike registration char-ges. Mr Chiranjeevulu said that this fact and that the land in Hyderabad, a Tier 1 city, was very affordable when compared to even Tier 2 and Tier 3 cities like Vijayawada, Visakh-apatnam, Ludhiana and others made land transactions attractive.
He said that other factors including stable government and rise in the real estate sector contributed to the revenues of the department and they would see a steady growth in the near future also.
Revenues grew from Rs 2,531.05 crore in 2014-15 to Rs 3,096.97 crore (2015-16), Rs 3,529.98 crore (2016-17) Rs 4,222.79 crore (2017-18) to Rs 5,357.37 crore in 2018-19.
In the districts comprising the city and the surrounds, Ranga Reddy topped by earning Rs 1,634 crore by registering 36,957 documents, followed by Medchal-Malkajgiri (Rs 811 crore, 16,305 documents), Hyderabad (Rs 536 crore, 2,139 documents and Hyderabad-South (Rs 463 crore, 3,840 documents)
Medak earned Rs 312 crore through 20,746 documents and Nalgonda Rs 222 crore (23,244 documents).
Warangal topped by earning Rs 183 crore from 11,968 documents and Adilabad was at the bottom of the chart with Rs 70 crore from 6,092 documents.
The others were Karimnagar with Rs 147 crore (10,904 documents), Mahbubnagar Rs 137 crore (17,740), Khammam Rs 95 crore (5,850) and Nizamabad Rs 90 crore from 9,679 documents.
