Hyderabad: The increased land rates due to the pandemic, have not caused a dent in land registration in Telangana. In the last eight months, the registration department has gained Rs 7,000 crore.
It is to be noted that the money earned by the department is twice the revenue earned during the pre-COVID times and three times the revenue earned during the financial year 2020-21. The Registration & Stamps department had seen 12 Lakh registration in all, out of these over three lakh were related to agricultural properties.
These registrations have been done through the Dharani web land portal. Districts including Rangareddy, Medchal-Malkajgiri, Hyderabad, Sangareddy, and Yadadri Bhuvanagiri have contributed to 60% of the revenue.
Officials from the registration department expressed their views on the high revenue generated, despite the increased land value since the last week of July. In a statement to the Times of India, an official said, “This is an indication that Telangana is bouncing back with huge revenue through property registration. This is also indicative of a booming realty sector.”
He further stated, “Due to the pandemic and lockdown, the registration department had made only Rs 1,800 crore revenue in the 2020-2021 financial year with nearly five lakh agriculture and non-agriculture registrations.”
Districts such as Mulugu, Jayashankar Bhupalpally, Kumuram Bheem Asifabad, Warangal, and Narayanpet have fared below average in terms of land registration for the financial year 2020-21. Telangana’s realty sector has seen fair growth since December 2020.