Pune: Property registration throughout Maharashtra in the second quarter of the ongoing financial year has exceeded the number of registrations in the appropriate quarter in the 2019-20 Pre-Pandemic Fiscal.
In accordance with the data available with the State Registration Department, RS7.507 Crore collected in revenue during the September-September quarter, slightly higher than RS7.112 Crore obtained during the same period in 2019.
Registration is the largest source of revenue for the country.
Inspector-General of the registration and state stamp, Shravan Hardikar, told TOI that high-value registration during the second quarter especially helped increase income.
“We registered many government, mortgage, and even land transactions from higher values,” Hardikar said, added, “smaller transactions such as the actions of gifts and leave and license agreements have decreased.” Officials said they expect an increase in registration and revenue this month too, with the launch of upcoming e-registration facilities – software that will allow developers to register property from their offices.
However, senior government officials, however, there is no SOP this year, such as reducing stamp duty which was announced last year, to increase income and registration.
Even so, with the celebration season in the corner, the developers said they expect an increase in registration.
State Credit President Sunil Furde said there were positive sentiments between developers and buyers, who supported the market.
“Assisted by lessons from last year, sales agents managing to overcome them better after the second wave, with relatively non-strict limits.
The aggressive vaccination strategy in this country has also helped,” Furde said.
He said they had been looking for SOP – on the reduction lines of stamp duty this year and were awaiting a positive response from the government.
A recent survey by the Anarock Real Estate consultant stated that, was catalyzed by the second wave, the home buyer would want to buy property in the range of Rs 90 Lakh to Rs 2.5 Crore, rather than in an affordable segment.
While the 35% of properties are preferred between RS45 Lakh and RS90 Lakh, 27% preferably affordable housing.
In the previous quarter, almost 36% had supported a house budget, the report stated.
The launch of the software for e-registration next week the state registration department will launch next week’s software that allows developers to register property directly from their offices.
This software is being tested now with the help of 350 developers, most of them from Pune and Mumbai.
Hardikar on Saturday says the operator and the developer will be trained in using software, which is intended to streamline the entire process.
“From the coming week, the process can begin.
This will allow more developers to advance and also reduce footsteps at the registration office,” Hardikar said further.
President Pune Credit Anil Pharande said this software would alleviate the entire registration process.