Registration revenue continues to rise
The Hindu
₹1,088 crore collected during September
The Registration and Stamps department’s revenue crossed ₹1,000-crore mark for the second time in the current financial year with ₹1,088 crore revenue reported in September.
Revenue from Registration and Stamps department was ₹1,201 crore during July which was the highest revenue earning month for the department in more than a year. The department’s revenue during the month grew 689 per cent as compared to ₹139 crore reported during the same month last fiscal. The revenue was achieved from registration charges through sale of 1.66 lakh documents during the month.
The growth indicates the steady progress of the department to achieve the ambitious target of ₹12,500 crore set for it during the current financial year. The department suffered a setback during the previous fiscal achieving around 65 per cent of the ₹10,000 crore target set for the year. Revenues however picked up in the current fiscal showing the robustness of the real estate market and the ever increasing interest among people to invest in land which would yield benefits in the long term.
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