Officials in Khammam district attribute it to a slowdown in real estate sector
Updated On – 2 April 2024, 09:58 PM
Officials in Khammam district attribute it to a slowdown in real estate sector
Khammam: There has been a decline in revenue in the Registrations and Stamps Department in the erstwhile Khammam district in the financial year 2023-24 as against the previous financial year. The department earned revenue of over Rs 197 crore in the year 2023-24 from land registrations while in the previous year, the revenue was over Rs 227 crore.
It resulted in a decline of over Rs 30 crore in the year. There are 11 sub-registrar offices at Khammam (district registrar office), Wyra, Khammam Rural, Kusumanchi, Madhira, Sathupalli and Kallur in Khammam district and at Kothagudem, Bhadrachalam, Burgampahad and Yellandu in Kothagudem district. As many as 43,651 documents have been registered in 2023-24 while 47,102 documents were registered in the previous year 2022-23.
In Khammam sub-registrar office 13,513 documents were registered in 2023-24 earning revenue of Rs 92.76 crore while in the previous year, Rs 108.65 crore was earned by registering 15, 416 documents.
A large number of registrations take place at Wyra, Khammam Rural, and Kusumanchi sub-registrar offices after Khammam. Only the Wyra office witnessed an increase in document registrations as well as revenue. At Wyra 4,474 document registrations took place bringing in a revenue of Rs 13.57 crore in 2023-24 while the revenue in the previous year was Rs 12.12 crore from 4,350 document registrations. At the Kusumanchi office, the number of registrations increased but revenue declined.
In Kothagudem district, 5,110 registrations took place accounting for a revenue of Rs 27.30 crore in 2023-24 while 5,816 documents were registered earning a revenue of Rs 34.64 the previous year. Bhadrachalam remained at the bottom with 132 document registrations and a revenue of Rs 4.38 lakh. The officials attributed the decline in revenue to the slowdown in the real estate sector as well as the recent Assembly elections. As the election code of conduct restricted cash carrying limit below Rs 50,000 and surveillance on bank transactions, the public stayed away from land registrations.
