Thanks to the announcement on the location of the Capital city, registrations in Krishna and Guntur districts have gone up significantly in the last six months. The total number of registrations has almost doubled this year as against the corresponding period last year.
The Stamps and Registration Department is flush with money with a significant pickup in real estate activity in both districts. Farmers are keen on disposing of their lands as the demand for land and prices have spiralled.
More than 60,000 registrations took place in Krishna district from April to October 2013. The registrations have crossed 1.14 lakh during the same period this year. Likewise, the registrations in Guntur district have doubled this year from about 56,000 last year.
The registrations fetched more than Rs. 600 crore in the two districts put together. The revenue was about Rs. 546 crore during April-October in 2013.
The State government’s announcement that the State’s Greenfield capital will come up along river Krishna has apparently triggered the sales, purchases and registrations.
Take for instance, Ibrahimpatnam in Krishna district. As many as 2,308 registrations took place in 2013. They went up to 2,792 in 2014 in Ibrahimpatnam mandal. Similarly in Kachikacherla, the registrations have crossed 6,700 in 2014 compared to 2,300 in 2013, sources say.
In Guntur district, registrations in Amaravathi area have gone up to 2,850 from a mere 900. Registrations in Krosuru area crossed 1,800 in 2014 from about 800 in 2013, sources say.
There are three district Registrar offices and 28 Sub-Registrar offices in Krishna district, while there are three District Registrar and 32 Sub-Registrar offices in Guntur district.
Every sale and purchase is registered and many transactions are taking place by agreements. Real estate brokers gave token advance to take possession of land and sell off land to the third party. But, at the same time, there is a considerable rise in registrations. In fact, there is a spurt in registrations ever since State was bifurcated.
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