Revenue Collection From Stamps Duty And Registration Expected To Cross Rs. 15,000 Cr

Hyderabad, Jan 23 (Maxim News): Telangana saw its revenue collections from stamp duty and registration charges surging by 40 percent and it is expected to collect over Rs. 15,000 crores during the current fiscal year, which is much higher than the projected target, which was Rs. 13,000 crores.

According to the officials, the total revenue during the last fiscal year stood at Rs. 12,364 crores, and in the current fiscal year, till December 31, about 14.54 lakh property registration was done across the State, of this, 5.63 lakhs (39 percent) were agricultural properties, while 8.91 lacks (61 percent) were non-agricultural properties. In December alone, a record high of 1.09 lakh non-agricultural properties was registered.

The government has collected Rs. 7,944 crores through the registration of non-agricultural properties and Rs. 1,587 crores through agricultural property registration till December 31. As per the data available, the registration of non-agricultural properties has crossed 9.5 lakhs and the revenue touched Rs, 8,473 crores as on January 21.

The increase in revenue was driven by a general upswing in the sale and purchase of all types of properties and a jump in the market value of properties and registration charges, officials said.

The State government has enhanced land values for property registrations since February last year, but even after the enhancement of land values, the department is getting about Rs. 1,000 crore revenue, on an average every month, a major share of revenue comes from Ranareddy district areas, especially Gachibowli, Serilingampally, Kondapur, Madhapur, Nafeezpet and Khajaguda. (Maxim News)

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