Real estate generates huge revenue in government coffers

Aurangabad, Jan 12:

The sale and purchase of land had slowed down due to the corona crisis. It had also affected the real estate sector, but in the last few months, the sector has bounced back and 53,225 properties were registered in the registration and stamp department by the end of December. This has generated revenue of Rs 441 crore, informed Soham Wayal, deputy inspector general (stamps).

Three districts including Aurangabad, Jalna and Beed are under the jurisdiction of the divisional office of the deputy inspector general of registration and deputy controller of stamps. The department was given a revenue collection target of Rs 840 crore this year. It included Rs 440 crore for Aurangabad, Rs 250 crore for Jalna and Rs 150 crore for Beed district. By the end of December, the department had received Rs 278 crore from Aurangabad district, Rs 74 crore from Jalna and Rs 89 crore from Beed district for a total of Rs 441 crore.

Registration of authorized properties increases
The department still has two months to meet the revenue target. Meanwhile, a total of 53,225 properties have been registered in the department from April to the end of December 2021. The fragmentation act has increased the number of transactions of legal properties. Registrations of only legal NA-44, row house, flats and plots are increasing, said Wayal.

Revenue of Rs 612 crore
From April 2020 to March 2021, a total of 1.60 lakh property registrations were made in Aurangabad, Jalna and Beed districts. Out of this, revenue of Rs 612 crore was deposited in the government exchequer.