Hyderabad: The increase in sales of plots and flats in Greater Hyderabad has generated more than Rs 4,000 crores revenue to the Stamps and Registration department in a 9 month span from April to December in the financial year of 2018-19.
According to the officials of Stamps and Registration department, with the hike in real estate prices, the trade numbers of land registration increased in the state more particularly in Hyderabad, Ranga Reddy, Malkajgiri, Medchal, Medak, Nalgonda, Nizamabad, Karimnagar, Warangal, Khammam and Adilabad district and the department had earned '4,247 crore revenue from April 1 to December 31, 2018.
Mr. Vemula Srinivasulu, Joint IG of Stamps and Registration of Telangana, said more than '3,000 crores revenue was received from Hyderabad, Malkajgiri, Hyderabad and Hyderabad (south). In 2017, the department recorded '3,291 crore revenue across the state with the registration of 8,19,507 documents. The number of registrations in the state increased to 10,92,289 this year, he said.
The officials of the department said the connectivity of the Metro rail had given a boost to areas like Miyapur, Madinaguda, Chandanagar, Lingampally, Beerumguda, Nagole, BN Reddy Nagar, Vanasthalipuram. Also, many of the employees of IT and private sectors preferred these areas to buy landed properties.
Ranga Reddy district alone recorded Rs 1500 crores revenue from April to December 2018, the department officials added.
