Andhra Pradesh has been registering tremendous growth in revenue earned through the Registration and Stamps Department for the last couple of years.
The government is expecting to realise about ₹9,500 crore by the end of this financial year, out of which it has already mobilised ₹4,100 crore in the first half-year between April and September.
During the period, there have been more than 14.39 lakh land transactions in the State.
The revenue earned during the first half-year of the current fiscal is more than the income generated in the entire 2015-16 financial year, which stood at ₹3,585.12 crore.
Moreover, there were only 15.12 lakh land transactions during 2015-16, Rajat Bhargava, Special Chief Secretary, Revenue (Excise, Registration & Stamps), told The Hindu.
The growth, both in terms of revenue and land registrations, had been slow from the financial year 2015-16 to 2019-20, Mr. Rajat Bhargava said, and added that the growth trajectory witnessed an upswing from the financial year 2020-21 to 2022-23.
During 2015-16, the revenue earned from 15.12 lakh land transactions was ₹3,585.12 crore. The following fiscal, it was ₹3,457.96 crore from 13.71 lakh transactions. The government earned ₹4,242.23 crore from 15.43 lakh transactions in 2017-18; ₹4,724.75 crore from 17.6 lakh transactions in 2018-19; ₹4,895.15 crore from 17.02 lakh transactions in 2019-20; ₹5,399.41 crore from 17.2 lakh transactions in 2020-21; ₹7,345.38 crore from 25.74 lakh transactions in 2021-22; and ₹4,100 crore from 14.39 lakh transactions between April and September in 2022-23 fiscal.
“The government aims at earning more than ₹9,500 crore from at least 30 lakh transactions by the end of March 2023,” he said.
Growth centres
Cities such as Visakhapatnam, Vijayawada, Guntur and Tirupati had emerged as growth centres as they contributed the highest revenue to the exchequer, Mr. Rajat Bhargava said.
While Manyam, Narasaraopet, Nellore and Rayachoti topped in the number of transactions, Anakapalli, Guntur, Vijayawada, Bapatla, Sri Balaji, Chittoor and Puttaparthi stood second, and Visakhapatnam, Machilipatnam, Ongole and Nandyal stood third.
“The government wants to decentralise the registrations process and entrust the task to the village and ward secretariats”Rajat BhargavaSpecial Chief Secretary, Revenue (Excise, Registration & Stamps)
“Guntur, Vijayawada and Visakhapatnam will be the top performers both in terms of revenue and registrations by the end of the financial year,” he added.
“In the last three years, the government has not increased the land registration rates, but has provided a conducive environment and better facilities. The government wants to decentralise the registrations process and entrust the task to village and ward secretariats,” Mr. Rajat Bhargava said.
