Hyderabad: Every sector suffered economic crises due to Corona pandemic. However, there are few sectors which performed well beyond the expectations of the government. Real Estate is one such sector.
The property transactions have witnessed a great increase. The Government’s revenue touched Rs.5850 cr due to agricultural and nonagricultural lands and properties transactions during the last four months.
The revenue in the month of March was. Rs.900 cr. Among the districts Rangareddy recorded the highest renew at Rs.276 cr.
Due to Dharani portal, the nonagricultural land registration was stopped from September to December 14. The agricultural lands’ registration started from October 20 through Dharani portal. The registration process witnessed a record high from December 14.
In spite of holidays in March, the work in the registration offices continued. A total of 12 lakh deeds were registered during the current year.
Last fiscal year 2020-21, due to coronavirus pandemic the revenue decreased to half. But after that Telangana recorded the highest revenue in the country. In spite of the country’s revenue dipping, the state’s revenue registered a record increase.
More commercial taxes were received in 2020-21 compare to 2019-20. Last year, the state earned Rs.45,000 cr which crossed Rs.50,000 this year.
Due to Corona pandemic the revenue decreased by Rs.30,000 cr. As per the latest reports, the revenue income is Rs.1.15 lakh cr.
Last year, the revenue was foreseen at Rs.1.82 lakh cr. But the revenue did not exceed beyond Rs.1.60 lakh cr. However, compare to other states, Telangana has achieved its target revenue of 70 to 80%.
The Telangana government has fixed a target income of Rs.1.76 lakh cr during the current fiscal year.