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Sunday, March 26, 2023
HomeNewsTop NewsThiruvananthapuram witnesses a increase in property registrations

Thiruvananthapuram witnesses a increase in property registrations

The government exchequer has earned Rs 560.67 crore through registration fee and stamp duty from these registrations. While Rs 413.56 crore was the stamp duty earned (at eight per cent of the registration value), Rs 147.10 crore was earned as the registration fee (at two per cent of the property value).

After a year of lull due to Covid-19, the state capital has witnessed a surge in the number of property registrations in the last one year. As many as 1,00,746 registrations were conducted in the last one year in the 41 sub-registrar offices in the state capital.

The government exchequer has earned Rs 560.67 crore through registration fee and stamp duty from these registrations. While Rs 413.56 crore was the stamp duty earned (at eight per cent of the registration value), Rs 147.10 crore was earned as the registration fee (at two per cent of the property value).

The highest number of registrations was conducted in Pothencode (4,913 registrations), Malayinkeezhu (4,695), Pattom (4,621), Thiruvananthapuram (4,383) and Kazhakkoottam (4,193) sub-registrar offices. At the same time, the least number was recorded in Poovar (941), Nagarur (1,029) and Kanjiramkulam (1,173).

Among the total number of registrations, more than 50% of the registrations were that of sale deeds that came to 52, 132, that earned revenue of Rs 490.237 crore byway of stamp duty and registration fee. As many as 28,098 registrations of settlements were done in the capital in the last financial year, generating a revenue of Rs 34.58 crore for the government. The least number of registrations were that of mortgages (50) and exchange of properties (53).

The capital had generated the highest revenue from registrations last year after Ernakulam district (Rs 977.21 crore). In terms of the number of registrations also, the state capital is at the second spot after Malappuram (1,20,143).The registrations department has earned a robust revenue that has surpassed its target for 2021-22. While the target revenue was Rs 4,125.99 crore, the revenue earned was Rs 4,431.88 crore, which is Rs 305.89 crore more than the targeted figure.

The revenue from registrations for the whole state in 2021-22 is Rs 1,301.57 crore more than that of the previous year, which was Rs 3,130.32 crore. In 12 districts (excluding Ernakulam and Thrissur), the revenue earned was more than the targeted figure. The department is expecting more revenue through registrations once the modernisations of the department are complete that includes total computerisation and online services. As many as 9,26, 487 documents were executed last year in the whole state, which is 1, 63, 806 more than that of 2020-21.

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