HYDERABAD: Revenue collection from Registrations and Stamps for the last financial year has been low due to the effects of the lockdown and introduction of the Dharani portal.For the financial year (FY) 2020-21, the government estimated collections of Rs 10,000 crore from the department. However, it only generated Rs 4,787 crore as of midnight, March 31 by registering 10.76 lakh documents. The department reached just 48 per cent of its estimated target.
In the yesteryears, ever since the formation of the State, the Registrations and Stamps department had always surpassed the expected revenue despite not increasing registration fee or revising market value since 2013. The State’s revenue from the department last year is the lowest since FY 2015-16.This time, due to the lockdown, registrations were closed for 45 days, which was followed by the temporary abeyance of office due to the introduction of the Dharani portal. Registrations through the portal were later withdrawn and they continued with the old CARD system in the State.
However, in spite of the low revenue during the last financial year, the government has set a target of Rs 16,000 crore for FY 2021-22, which is nearly three times more than the revenue generated in FY 2020-21. According to the sources from the Finance department, the government is planning to initiate reforms to generate more revenue and to reduce corruption in the department.
