State earns Rs 1,003 crore by property registration in April
Another reason for the rise in proprety registration was that banks opened the doors for home loans to secured job holders
HYDERABAD: Stamps and registration department mopped up Rs 1,003 crore during April, the first month of the financial year 2022-23. The collections were dampened by a series of bank holidays, officials said.
"Buyers preferred semi-urban and rural localities to invest. The IT and corporate sector employees returned to work from office after the pandemic and they chose to invest in residential properties mostly in the city surroundings," an official said.
Another reason for the increase in property registration was that banks opened the doors for home loans to secured job holders during the new financial year. Serilingampally, Shankarpalli, Gandipet, Ibrahimpatnam, Ameenpur, Balanagar, Quthbullapur and Medchal sub-registration offices made thousands of registrations of properties last month.
In districts, registration of properties, especially agriculture and non agriculture land, went up in April. Agriculture and semi rural properties have been registered by customers in Nalgonda, Sangareddy, Vikarabad, Khammam, Suryapet and other districts.
The registration process in agriculture has been delayed due to errors in Dharani portal. Even though slots were booked for agriculture lands registration, officials refused to do it because some errors were found in survey numbers and land records details on the portal.