Telangana Registration and Stamps division is continuous its spectacular run by way of income technology of over ₹10,000 crore on the finish of the primary three quarters of the present monetary 12 months (2024-25). The division is likely one of the key contributors to the State’s tax income. It has been contributing near 10% of the whole tax income generated yearly.
Sorts of fees for land transactions
The division is the among the many few which achieved greater than 50% of the ₹18,228 crore goal set for it [this financial year]by attaining near ₹11,000 crore on the finish of third quarter. And,the buoyancy within the revenues may be seen from the truth that it has repaid a lot of the dues it owed to native our bodies within the final couple of months. The division levies fees within the type of stamp obligation, registration price, switch obligation and mutation price for the land transactions. Of those, income by stamp obligation and registration price accrues to the division whereas switch obligation and mutation price can be devolved to native our bodies.
The devolution of switch obligation and mutation price was made as soon as each quarter prior to now, nevertheless it has been stopped for a few years leading to piling up of dues. Senior officers stated the division was in a position to clear over ₹5,700 croredues of switch duties and mutation price to the native our bodies. The division had transferred ₹3,046.45 crore to native our bodies in December and it was ₹2,694.77 crore in January, thereby leading to decline in progressive receipts as indicated within the provisional knowledge launched by the Comptroller and Auditor Basic of India.
“The huge dues are because of the fact that these duties were not transferred to local bodies over the past couple of years,” a senior official informed The Hindu. The dues have been paid due to the current Authorities’s insistence that the dues for the native our bodies be cleared on the earliest in order that they will take up developmental works of their respective jurisdiction.
Decelerate in registrations
The division has seen a decelerate within the registration course of just lately however this was not on account of the demolitions by Hyderabad Catastrophe Response and Asset Safety Company HYDRAA as speculated by a bit of individuals. “There are several factors involved in registration revenue. The slow down in registrations can be because of the correction in the markets, over supply and other factors. Recessionary trends in the industry too partly affects registrations as IT professionals rethink about investments during such trend,” the officers stated.
Printed – February 20, 2025 06:08 pm IST
