Property registration rakes in Rs 20,000 crore
Revenue touched Rs 20,054 crore as against last year's Rs 18,666 crore
Apr 08, 2015
Source : The Times of India


PUNE: Fewer properties were registered with the sub-registrars' offices across the state in 2014-15 as compared to the previous two years, but revenue rose by a phenomenal Rs 1,388 crore over 2013-14, according to the office of state Inspector General of Registration (IGR) and Controller of Stamps. 

As of March 31, 2015, the office registered 22.73 lakh property-related documents as against 23.30 lakh documents last year, a drop of 57,094 documents. 

But the drop was not reflected in the revenue collected through the registration of documents. Officials said revenue touched Rs 20,054 crore as against last year's Rs 18,666 crore. 

Property-related documents include sale, purchase, transfer, and leave and licence processes of properties. The revenue comes from stamp duty and registration fees. 

Sources in the industry attributed the drop in registration of documents to inflation and high prices of properties . Outgoing IGR Shrikar Pardeshi said that in 2012-13, the office had registered about 22.97 lakh documents and had mopped up revenue of Rs 17,548 crore. 

In 2013-14, document registrations and revenue went up, but last year, the document registration dropped, but revenue increased. Revenue collection in the three financial years has gone up, he added. 

Pardeshi said two apps have been developed by the office to enable citizens to calculate stamp duty on a given value of property in a particular area and identify locations of the sub-registrar's offices. 

The apps have been developed for android and Apple-based operating gadgets. The apps, IGR Sarathi and IGR Calculator, can be downloaded at play store and i-store. 

Newly appointed IGR N Ramaswami said he would improve the citizen-friendly initiatives taken up by the office while emphasizing on transparency and innovation. 

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