Property transactions deposit Rs 440cr in government treasury

Lokmat News Network

Aurangabad

The government has exceeded the yearly target of revenue through land and property transactions in the district. The yearly revenue target was Rs 430 crore but the actual revenue collected in just nine months is Rs 440 crore. It is expected that Rs 100 crore additional revenue will be collected in the remaining three months.

The stamps and registration office through the sale and purchase of lands and properties exceed the target by Rs 10 crore in nine months. Despite the rigorous implementation of the fragmentation and consolidation of holdings Act, the department has crossed the given target. Similarly, due to corona crisis, there was a deep impact on sales and purchases. However, 102 percent of the target was achieved by the end of December. It is said that during the Diwali and Dussehra festival seasons, there were huge transactions of plots, flats, open land, bungalow, and others.

The target for 2021-22 was Rs 410 crore and actually, Rs 490.62 crore was collected which was 119.66 percent of the target. It is expected that Rs 540 crore can be collected during this financial year, said district collector (stamps) Vivek Gangurde.