Hyderabad: The revenue of the Registration Department in Telangana is likely to be more than Rs. 10,000 crores this fiscal year.
Currently, till the second week of January, the revenue is Rs 7759 crore which includes agricultural land registration income of Rs 1151 and nonagricultural land registration income Rs 6608 cr.
The average income during the months of January, February and March is estimated to be Rs 1000 crore on average.
It is the first time that the Department’s revenue touched Rs 10000 crore which is mainly due to the increase in the registration charges and the numbers of registrations.
The state government forecast is to earn Rs 12500 crores revenue in the current year out of which 62% has already been earned till the second week of January.
Due to the coronavirus pandemic, the Department’s income has been adversely impacted for 50 days. The income had become normal from June 2021.
The daily income of the Department is between Rs.30 to 40 crore due to the government increasing the land valuation.
The investment scenario in the state is extremely good and the real estate sector is surging rapidly in areas in and around Hyderabad, Warangal, Khammam Karimnagar, Nizamabad and other districts.