Tirupati: Both Tirupati and Chittoor districts fell short of their stamp duty and registration revenue targets for the financial year 2024–25, reflecting a broader slowdown in the real estate sector and the impact of policy changes. Tirupati achieved just 65 percent of its target, while Chittoor fared slightly better at 68 percent.

In Tirupati, the Department of Stamps and Registration collected Rs.507.18 crore—nearly Rs.270 crore short of its target and below the Rs.521.74 crore generated in the previous fiscal. The number of registered documents also dropped sharply, from 1,823 in 2023–24 to just 880 in the latest year. However, District Registrar G Sriram Kumar noted that the previous year saw a one-time spike in activity due to nearly one lakh One-Time Settlement (OTS) transactions and around 6,000 TTD plot registrations—factors that did not repeat subsequently.

Among the sub-registrar offices, only Venkatagiri (86.73 percent) and Chandragiri (84.91 percent) crossed the 80 percent revenue mark. Tirupati Urban, which had the highest target of Rs.172.77 crore, managed to achieve just Rs.92.18 crore—53.35 percent of its goal. Other offices recorded similarly low performance: Renigunta (66.17 percent), Tirupati Rural (70.75 percent), Naidupeta (64.58 percent), Gudur (61.90 percent), Puttur (63.37 percent), and Srikalahasti (56.22 percent).

A major factor behind the shortfall was obviously the state government’s suspension of freehold registrations in key subdivisions such as Srikalahasti, Renigunta, and Satyavedu—areas previously known for a high volume of DKT and dotted land conversions. These regions had recorded nearly 2,000 freehold registrations in 2023–24. The department officials were of the view that its impact fell on the revenue.

The local real estate market also showed signs of a slowdown. A real estate agent based in Tirupati, noted that NRI investments had declined due to increased scrutiny of land records and reduced overseas income, particularly in the suburbs around Tirupati and Sullurpet. In Chittoor district, despite a better performance than the previous year—with collections improving from 50.90 percent to 68 percent—the district still missed its Rs.221.88 crore target, ending the fiscal with Rs.149.88 crore. Officials attributed the shortfall to similar issues: recent regulatory reforms and the continued suspension of freehold conversions.

“The short-term revenue dip was expected,” said an official from the Chittoor Sub-Registrar Office. “We’ve done better than last year and expect a turnaround going forward”.

Among sub-registrar offices in Chittoor, Palamaner led with 78 percent of its target met, followed by Karvetinagaram at 75.71 percent and Kuppam at 69.93 percent. Bangarupalem recorded the lowest performance with just 55.88 percent. Overall document registrations also saw a marked drop—from 86,622 in 2023–24 to 60,656 in 2024–25, a decline of nearly 26,000 transactions.