PUNE: Riding on high-value transactions, the state registration department has this year achieved 93% of the July revenue target of 2019, or the pre-pandemic time.
“It is a good sign that we were able to come close to achieving the 2019 target even as there were no sops in July this year. The total revenue earned by the department in July this year was Rs 2,411.75 crore as against Rs 2,594.2 crore in 2019,” state inspector General of Registration and Stamps (IGR) Shravan Hardikar said.
The department had registered 1,69,532 documents in July this year as compared to 2,58,632 in July, 2019. But the revenue amount is just less by 7%.
Maharashtra had seen four-year highest registrations and revenue collection in November and December last year due to the stamp duty waiver. Realty experts said while citizens availed of the stamp duty waiver from September to December and then from January to March, the volume of actual transactions could have been affected. “Registrations in big projects seem to have happened in July, which helped in increasing the revenue,” said a property expert.
Property registration department officials said low-value sales were impacted, with low-cost housing projects too not getting registered as much since the second wave hit the state. “More land transactions and bigger projects seem to have been registered, which has definitely brought in more revenue,” an official from the department said.
Credai vice-president national Shantilal Kataria told TOI that there was more sale in July, but actual registrations could have suffered due to the rainfall and flood affecting many areas.
“We are expecting more projects being announced. After the Unified DCR, developers are now changing the plans accordingly. In Pune itself, nearly 100 projects may be rolled out in the festive season. The registrations will slowly pick up,” he said.
Data on 23 registration offices submitted to the government: officials
‘Data on 23 registration offices submitted to govt’
Data from 23 sub-registrar offices in Pune city has been submitted to the state government, registration department officials said.
The move follows an in-depth investigation into suspected cases of property registrations of unauthorised constructions and illegal plotting. “The action comes after complaints were made to the government alleging illegal registrations taking place in the city in connivance with officials. A committee was assigned by the state government and the report was asked to be submitted after visiting and checking documents from each of the offices,”an official of the registration department said.
