Telangana: Rs 1,000 crore from non-agri asset registrations

HYDERABAD: The state government has earned nearly an income of Rs 1,000 crore from registration of non-agriculture land properties under the old method.
In this month alone (since January 1), the state earned Rs 565 crore. A total of 86,764 documents were registered this month. In the entire financial year, 6,13,352 documents have been registered. This takes the income of the state to Rs 2,855 crore in this financial year.

On December 21, the state switched over to non-slot based registration system after a lot of furore and the high court’s intervention.Though the government said the purpose of the slot-based registration system was to bring transparency, the move attracted a lot of criticism from various quarters.
During regular days before the registrations were kept on hold, the stamps and registration department was earning Rs 500 crore to Rs 600 crore.
In the budget estimates, the state government had pegged an income of Rs 10,000 crore from registration of properties. Authorities are hopeful of achieving the target by the end of the financial year. The registrations saw a jump after the government tweaked some rules, especially for small owners of plots and flats for second selling. “The changes that have taken place after the first few days of new system of registrations have helped the people wanting to sell their properties,” Srinivas, Telangana Builders’ Forum vice-president, said.
Interestingly, the stamps and registration income of the state grew from Rs 2,745 crore in 2014-15 to Rs 7,061 crore in 2019-20.