Property Registration Dept earned mere 1864 crore till end of 2020

Rs.3500 crore expected in next three months

Hyderabad: The registration of non-agricultural lands and properties is witnessing a brisk transaction after a lull of three months. 

All 141 registrar offices of the state started functioning on feverish pace since December 21, 2020.  The Department earned Rs.383 crore in just nine days from December 21-31, 2020.

The Registration Offices received 20 thousand documents after the amendment of Layout Regularization Scheme (LRS) Acts which brought revenue of Rs.170 crore in the Department’s kitty. 

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March 2002 was the best month in terms of earning the revenue as the Department earned Rs.400 crore.  Then the Department had to close its transaction first due to Corona pandemic then lockdown followed by a 3 months work suspension period.  The people rushed to the Registrars’ Offices for the completion of their properties’ registration.

The officials hoped that after the amendment to LRS the registrations would be heavily increased in the next three months. 

The State government had expected revenue of Rs.10, 000 crores from the registration fee but the Corona pandemic has put paid to its plan.  Further suspension of work in the Registration offices for three months lead to further loss of revenues.

The Government could merely earn Rs.1864 crore till December 31, 2020.  It is expected that during the next three months the government would earn more than Rs.1, 000 crore a month.  The revenue of the Registration Department for the current fiscal is expected to be Rs.5500 crores.     

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