HYDERABAD: Registrations and Stamps department officials, who targeted a revenue of Rs 15,000 crore by way of property registrations, could generate Rs 12,000 crore across agriculture, residential, nonagriculture and commercial property registrations in the current financial year.
A revenue of around Rs 9,185 crore was generated by March 31 from registrations of residential and commercial properties while Rs 4,000 crore was from registrations of agriculture properties across the state.
Sources in the registration and stamps department told this correspondent, “We expected to net at least Rs 15,000 crore by March 31. We managed to cross Rs 12,000 crore revenue in the current financial year. Festival and recent bank holidays have impacted registrations considerably.”
In the Covid-hit previous fiscal, revenue generation was less than Rs 10,000 crore. “Registration of properties has gone up even after the government enhanced its market value. Customers have preferred to purchase lands in Medchal, Ranga Reddy, Nalgonda, Yadadri Medak, Sangareddy and Vikarabad, thanks to the proposed Hyderabad Regional Ring Road,” sources said.
