Residential property registration jumps 2-fold in Dec

Aurangabad, Jan 3:

The government registry and stamp duty office is one of the most important revenue paying offices in the government coffers. But the revenue collection registered a significant drop due to Covid-19. Since opening, the office earned revenue of Rs 200 crore during the year. The highest revenue of Rs 45 crore was collected in December.

Intending to boost the real estate and construction business following the lockdown, the government gave a 3 per cent discount on stamp duty. This led to an upsurge in property sales. Transactions stalled from May to August were accelerated between September and December. Most of the transactions took place between January and February 2020 and till the lockdown. The offices opened on May 5. However, there were only a few registrations till July. However, in August, 5,214 properties were registered earning a revenue of Rs 27 crore. In September, 7,300 registrations generated revenue of Rs 27 crore, while in October, 6,902 transactions earned revenue of Rs 28 crore. The same proportion remained in November.

Transactions made in the month of December

In the month of December 2020 alone, 11, 203 properties were registered in the district generating a revenue of Rs 44.16 crore.

The district has received an average revenue of around Rs 200 crore in the last year.

Three districts earn highest revenue

Deputy inspector general of registration and deputy registrar Soham Wayal said, most of the revenue was received in Aurangabad, Jalna and Beed districts. The actual figure is still to be calculated.