Pune: Driving a high-value transaction, the state registration department this year has reached 93% of the July 2019 revenue target, or pre-pandemic time.
“This is a good sign that we can approach the 2019 target even because there is no SOP in July this year.
The total income obtained by the department in July this year is Rs 2,411.75 Crore due to RS 2,594.2 Crore in 2019,” said State Inspector Registration and Stamps (IGT) Shravan Hardikar.
The department has registered 1,69,532 documents in July this year compared with 2,58,632 in July 2019.
But the amount of income is less than 7%.
Maharashtra has seen the highest registration and collection of four years in November and December due to neglect of stamp duty.
Realty experts say when citizens are available from the neglect of stamp duty from September to December and then from January to March, the volume of actual transactions can be affected.
“Registration in large projects seems to have occurred in July, which helps increase revenue,” said a property expert.
Officials of the Property Registration Department said low-value sales were affected, with low-cost housing projects also not registered as much as the second wave crashed into the country.
“More land transactions and larger projects appear to have been registered, which must bring more income,” said an official from the department.
The Vice President of the National Credai Shantilal Kataria told TI that there were more sales in July, but actual registration could be suffered due to rainfall and flooding that affected many regions.
“We expect more projects to be announced.
After the integrated DCR, the developer is now changing the appropriate plan.
In Pune itself, almost 100 projects can be launched in the celebration season.
Registration will slowly take,” he said.
Data on 23 registration offices submitted to the Government: Official data on 23 registration offices submitted to Govt’data from 23 sub-registration offices in Pune City have been submitted to the State Government, the registration department official said.
This step followed in-depth investigations about alleged property registration cases from illegal construction and illegal plots.
“The action arose after complaints carried out to the government that accused illegal registration that occurred in the city in Convance with officials.
A committee was assigned by the state government and reports were asked to be delivered after visiting and checking documents from each office,” said an official of the department registration.