Over 80% of registration revenue target achieved in district

Pendurthi, Madhurawada, Anandapuram, Bheemunipatnam witness boom in construction activity

The Registration and Stamps Department has achieved ₹654.24 crore as against the target of ₹801.34 crore for the 2020-21 fiscal.

Pendurthi, Madhurawada, Anandapuram and Bheemunipatnam areas are witnessing a boom in the construction activity, if the number of documents registered at the eight Sub Registrar Offices(SROs) in Visakhapatnam district, this year, is any indication.

Similarly, the industrial areas under the jurisdiction of Lankelapalem, Pedagantyada, Chodavaram and Yelamanchili SROs in Anakapalle revenue district, in Visakhapatnam Registration Zone, have seen maximum registration of documents in the 2020-21 fiscal. The boom in construction activity at specific places is attributed to various factors like pollution-free environment, tourism projects and proximity to industries.

Visakhapatnam district of the Registration and Stamps Department has achieved ₹654.24 crore as against the target of ₹801.34 crore, thereby achieving 81.64% of its target, for the 2020-21 fiscal. In contrast, the district achieved ₹595.57 crore as against the target of ₹827 crore, thereby achieving 72% of its target during 2019-20, A. Nagalakshmi, Deputy Inspector General of Registration and Stamps, Visakhapatnam Zone, told The Hindu .

The target was reduced this year in view of the crisis in the construction industry due to the impact of the COVID-19. “The number of document sales, which was 55,489 in 2019-20, marginally declined to 55,204 this year. However, the revenue increased despite the drop in document sales. This can be attributed to the increase in property values in the city,” she says.

Anakapalle revenue district has achieved ₹273.49 crore as against the target of ₹300.68 crore, thereby achieving 90.96% of the target this year. It achieved a revenue of ₹222.39 crore as against the target of ₹309 crore in 2019-20, thereby achieving 71.97%. The document sales increased from 63,938 in 2019-20 to 70,921 this year.

“The property values are revised once a year in urban areas and once in two years in rural areas. Visakhapatnam being a big district, it has been divided into two revenue districts and they both come under Visakhapatnam Zone,” says Ms. Nagalakshmi. There are eight Sub-Registrar Offices in Visakhapatnam district — Anandapuram, Bheemunipatnam, Dwarakanagar, Gajuwaka, Gopalapatnam, Madhurawada and Regional Office — and 11 in Anakapalli revenue district — Anakapalli, Chodavaram, K. Kotapadu, Lankelapalem, Madugula, Nakkapalli, Narsipatnam, Pedagantyada, Sabbavaram and Yelamanchili.

In the district, the highest revenue growth rate of 40.57% is seen in Bheemunipatnam, followed by Pendurthi at 33.54%, and Madhurawada at 31.39%. The maximum increase in the number of documents was seen at Pendurthi (1,159), followed by Bheemunipatnam (776) and Madhurawada (305). In Anakapalle revenue district, Pedagantyada received the highest revenue of ₹58.21 crore followed by Yelamanchili with ₹47.60 crore and Lankelapalem with ₹38.34 crore during 2020-21.