Special Chief Secretary (Revenue) Rajat Bhargava has stated that the State government was committed to providing impetus to the real estate sector in the State.
In a statement on Friday, Mr. Bhargava said the achievement of the A.P Registration and Stamps Department was significant. The achievement during the financial year 2021-22 was ₹7,327.24 crore as against the target of ₹7,327 crore. The achievement was 91%, and was around ₹2,000 crore more than the previous year’s (2020-21) ₹5,399.41 crore, he said. During the last two years, market value revision was not taken up, he said.
At the time of the bifurcation of Andhra Pradesh, in the year 2014-15, the achievement of the department was ₹2,874.44 crore against the targeted ₹3,404.53 crore ( 84.43%). And it was ₹3,585.12 crore in 2015-16, ₹3,457.96 crore in 2016-17, ₹4,242.23 crore in 2017-18, ₹4,724.75 crore in 2018-19, ₹4,895.15 crore in 2019-20, ₹5,399.41 crore in 2020-21 against the target of ₹6,336 crore (85.22%), he said.
The government was committed to the welfare of the people and the improvement of services. It was also committed to the growth of the real estate sector. Keeping this in mind market revision was not done after 2020. By March-end (2022), Andhra Pradesh registered a growth of more than 35% over the previous year. Also, the State crossed more than ₹1,000 crore in March showing kick off in the real estate sector, he added.
