State govt sees sharp rise in property regn revenue

Hyderabad: Telangana has achieved a big growth in the revenue generation from property registrations. According to the official figures, revenue has increased by Rs 32.96 crore through registration in November this year.

Rs 1,127.79 crore revenue was generated from registrations in November last year. This year, in the same months, total revenue of Rs 1,160.75 crore was generated through 1,19,317 documents. Compared to last year, the number of document registrations has increased by 13.38 per cent and the revenue by 2.92 per cent.

State Stamps and Registration wing officials said that a positive growth was registered in the HMDA area. This month alone, a revenue growth of Rs 21.09 crore was achieved. In the non-HMDA area, a revenue of Rs 202.78 crore was generated. The officials claimed a higher growth was recorded in the revenue generated from registrations related to houses and residential complexes when compared to the commercial complexes. It clearly indicated that the property sales are increasing fast in the State in recent times.