Target Of Rs. 5,000 Cr Through Registration And Stamp Fee In 3 Months

Hyderabad, Jan 7 (Maxim News): The Telangana government headed by Chief Minister K. Chandrasekhara Rao is eyeing to generate more revenue from property sales in the state. The Stamps and Registration department targeted Rs. 5,000 crores through registration and stamp fee in the months of January, February, and March of the current financial year.

To ensure the achievement of the revenue targets, the KCR government instructed the Registration department to provide a hassle-free mechanism for the smooth flow of the registration process. Particularly in Greater Hyderabad limits where the number of property registrations was at an all-time high in the last four months.

Officials said that the KCR government has set a Rs. 15,600 crore revenue target from the registration wing, and Rs. 10,000 crores was already generated in the last 10 months. “For the first time, the Stamps and Registration wing is achieving revenue targets every quarter and planning to earn more than the total target in this financial year. Besides, seeking Rs. 10,000 crores as borrowings, the government targeted to generate Rs. 5,000 crores in just three months. “All the money will be utilized to fulfill the promises of disbursement of the Dalit Bandhu scheme benefit and extend Aasara pension to all the applicants which are pending before the government. “It required Rs. 18,000 crores to spend on schemes, salaries, and other establishments. Despite seeking borrowings, the State is facing an Rs. 10,000 crore deficit to meet the expenditure. This will be met by revenues generated by the Stamps and Registrations wing. “Officials of the State Finance wing said the government was also finding other ways to increase revenues so that all the schemes will be implemented without delay in the electioneering year. (Maxim News)

Next Story :

Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe.  Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates