Hyderabad: The Department of Stamps and Registration generated a record amount of revenue in the month of December. About 1.83 lakh documents were transacted across the state generating Rs 1245 crore.
The month of December generated the maximum amount of revenue during the current financial year. In November, the total amount of revenue was Rs 1150 crores whereas the revenue was up by about Rs.100 crores in December.
According to the Registration officers, the registration of the documents is always normal in the month of December. People prefer the new year and some of them consider land transactions auspicious on the occasion of Sankranti festival.
The trend, however, has completely changed this time due to two main reasons: First, the prices of lands and homes have increased tremendously, and waiting for two more weeks may lead to an increase in prices which in turn may increase the registration charges. Secondly, in view of the spread of Omicron, a new variant of coronavirus, there is a likelihood of hurdles in the registration process that the people wish to avoid.
The transaction of agricultural lands also increased from 71,688 transactions in November to 76908 transactions in the month of December.