Hyderabad: Contrary to the government’s assessment, land transactions and registrations have come to a standstill in almost all districts of Andhra Pradesh, with all of them recording minus growth in the first month of the current financial year.
The major setback comes in the form of APCRDA having frozen all transactions and registrations in not only 29 villages of the capital region, but also 89 villages through which the proposed outer ring road is passing through, a situation that has reflected on the state government’s revenue.
Sources said that the reason for the freeze was that the demand for land belonging to the CRDA would decrease. Guntur district recorded minus 26.47 per cent and Krishna district recorded minus 14.97 per cent growth rate.
Following the revenue growth through stamps and registrations in the previous financial year, the state government fixed the target at Rs 5,180 crore in the current financial year, expecting to earn Rs 414.4 crore in April. But it has earned only Rs 219.5 crore, that is, 52.97 per cent of the target. In the previous financial year, the state government earned Rs 284.38 crore in the same period.
The officials had expected more revenue from Visakhapatnam, East and West Godavari, Krishna and Guntur districts, but all of them recorded negative growth, like other districts in the state.
After the declaration of the capital city of Amaravati and the shifting of AP Chief Minister N. Chandrababu Naidu to Vijayawada, land transactions picked up pace in Krishna and Guntur districts....