In line with the positive reports about realty transactions in Telangana, particularly in Hyderabad and surrounding districts from reputed real estate research companies, the State has seen a significant jump in its revenue from the Stamps and Registrations Department.
The department earned a revenue of ₹4,700 cr. till December-end during this financial year, registering an impressive growth rate of 30%.
The targeted revenue for the year is ₹5,000 cr. and with one more financial quarter to go, the State is set to exceed the target. The revenue during corresponding period in the last financial year was ₹3,600 crore.
Official sources said that political stability, law and order and pro-active policies of the government, TSiPass and infrastructure development infused confidence in the investors and people from across the country are coming forward to invest in Hyderabad and surrounding districts. State government sources said Hyderabad is emerging as an investment destination. This is what has been reported by Wealth Management Companies too. The real estate research companies, which compiled the data of cities like Ahmedabad, Bangalore, Chandigarh, Chennai, Cochin, Hyderabad, Kolkata, Mumbai, NCR and Pune, said that Hyderabad has witnessed 32% growth in the sale of apartments”.
One of the major factors contributing to Hyderabad attracting investors is its affordable land and apartment prices compared to other metros.
The registration values are also low at 6% compared to Tamil Nadu’s 8% and AP’s 7.5%.
The basic land value rates have not been revised for more than five years though there is considerable difference in the basic land value and actual market value, thus the stamp and registration charges are considerably lower than other markets in the country.
Ranga Reddy earned the highest Stamps and Registration revenue till Dec. 2018 with ₹1,513 crore in the State followed by Medchal-Malkajgiri district with ₹942 crore, Hyderabad and Hyderabad (South) together accounted for ₹613 crore.
The other districts where transactions witnessed a boom are Medak with ₹360 crore, Nalgonda at ₹206 crore, Warangal -₹154 crore, Karimnagar - ₹139 crore and Mahbubnagar - ₹109 crore.