Telangana is all set to gain around Rs 1,000 crore via registrations in the first month of 2021, overcoming the pandemic problems and last year's lockdown impact. That almost state is on the path to recovery can be assessed by the fact that it collected Rs 100 crore from the registration of non-agricultural properties in the first two days of the year itself.

Senior officials attributed this significant improvement to the tweaking of the rules of the land regularisation scheme (LRS). Under the LRS, there is now more flexibility available for landowners. This year, they expect to gain more revenue through property registration. An official stated that sure this particular month alone, the state will earn Rs 1,000 crore income.

The stamps and registration department received about Rs 600 crore a month before the registrations were stopped and the Covid-induced economic downturn. On a positive note for the stamps and registration department, the New Year also began with a record 7,581 documents being registered on January 1 and 2.

Exponential Rise in Registrations

Officials stated that there was an increase in registrations, especially after the relaxation of the LRS was announced shortly after the beginning of the registration of non-agricultural properties on December 14 2020. By December 31 via registrations, the state received nearly Rs 450 crore as 47,072 documents were registered.

In the first two days of the New Year, the total number of documents registered increased to 54,653. The registration department collects Rs 25 crore per day on regular days and the latest trend shows that it has doubled the collection. They are hoping to continue this pattern. By registering properties, the state hopes to earn a good income. 

Telangana State Planning Board vice-chairman B Vinod Kumar said property registration in and around Hyderabad has picked up speed. Despite the economic crisis, the state's GST collection was fine. The state should be able to gain more revenue this year with Hyderabad speeding ahead.

The state had received only Rs 1,692 crore income until November 2020, while Rs 10,000 crore was the targeted income. This included registrations for non-agriculture and agriculture. The Stamps and Registration Department collected Rs 7,061 crore in the last financial year.

By: Shailaja K