Telangana Government eyeing Rs 5k cr revenue from property sales in 3 months

Hyderabad: As the real boom is on a high in the New Year, the government is eyeing to generate more revenue from property sales in the State. The Stamps and Registration department targeted Rs 5,000 crore through registration and stamp fee in the last three months (January, February and March) of the current financial year.

To ensure the achievement of the revenue targets, the government instructed the Registration department to provide a hassle-free mechanism for the smooth flow of registration process. particularly in Greater Hyderabad limits where the number of property registrations was at an all- time high in the last four months.

Officials said the government has set Rs 15,600-crore revenue target from the registration wing; Rs 10,000 crore was already generated in the last 10 months. "For the first time, the Stamps and Registration wing is achieving revenue targets every quarter and planning to earn more than the total target in this financial year".

Besides, seeking Rs 10,000 crore as borrowings, the government targeted to generate Rs 5,000 crore in just three months. "All the money will be utilised to fulfill the promises of disbursement of the Dalit Bandhu scheme benefit and extend Aasra pension to all the applicants which are pending before the government.

"It required Rs 18,000 crore to spend on schemes, salaries and other establishments. Despite seeking borrowings, the State is facing Rs 10,000 crore deficit to meet the expenditure. This will be met by revenues generated by the Stamps and Registrations wing "

Officials of the State finance wing said the government was also finding other ways to increase revenues so that all the schemes will be implemented without delay in the electioneering year.