Impressive run of Registration and Stamps continues

Revenue of ₹900 cr. realised during October

The impressive run of Registration and Stamps department in earning revenue is continuing with the department registering over ₹900 crore revenue during October this year.

The onset of the auspicious Kartika Maasam has further bolstered the prospects of the department which registered ₹400 crore revenue through sale of documents and registration charges in the first 10 days. Of these, transactions pertaining to agricultural properties constituted 20 per cent amounting to ₹80 crore. Senior officials are hopeful that the spike in registrations is likely to continue well into next month. The growth in revenue during the current month is likely to be around 15 per cent taking the total earning to over ₹1,000 crore.

The department witnessed registration of close to 50,000 agricultural properties during October earning revenue of ₹130 crore and revenue through registration of non-agricultural properties stood at ₹780 crore for the month. The department has crossed the half way mark of ₹12,000 crore stiff target set for it during the current financial year. Revenue through Registration and Stamps crossed ₹6,300 crore one month after the commencement of the second half of the financial year from October. The department witnessed a spurt in the revenue which crossed ₹1,200 crore in July and this was due to sudden rush for registrations ahead of upward revision of registration charges and stamp duties.

“There has been constant rise in the number of registrations and the revenue per month is around ₹1,000 crore since the total lifting of restrictions imposed due to COVID-19,” a senior official told The Hindu.

Registration and Stamps department was among the revenue earning departments which suffered adversely due to the impact of the Covid-19 pandemic. But the department revived itself since the lifting of restrictions from April this year registering ₹716 crore revenue. The trend is continuing, but for May when it dropped to ₹234 crore due to closure of sub-registrar offices on account of COVID-19 pandemic.

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