The Telangana Government on Friday claimed that the Stamps and Registration Department has a registered a record growth of 31.21% in net revenues during the first six months of current financial year 2016-2017. Briefing the growth reasons and giving the figures, Principal Secretary to Chief Minister K. Chandrashekar Rao, S Narsinga Rao informed that as against the net revenue achievement of Rs. 1475 Crores in the financial year 2015-2016 during the first six months from April to September, this year during the same period the corresponding figures are Rs. 1935. 30 Crores.
'A decisive leadership, feel good factor, confidence in governance, single window clearances, eases of doing business in real estate sector, development process in the state, progress in irrigation projects, adequate power supply without any cuts and prospects of establishing new power projects, economic growth, rise in per-capital income and consequent purchase capacity of individuals leading to a greater economic activity resulted in a phenomenal growth rate in the net revenue in the stamps and registration department of Government of Telangana. Added to this the announcement of new and smaller districts also contributed to the growth,' claimed Narsing Rao.
The month wise growth rate and net revenue is: In April 2016, 27.92% (Rs 306 Crores); in May 2016, 44% (Rs 370 Crores); in June 2016, 40.20% (Rs 310 Crores); in July 2016, 28.51% (Rs 310 Crores); in August 2016, 31.51% (Rs 329. 16 Crores) and in September 2016, 31.21% (Rs 310.15 Crores). 'It is seen clearly that there has been a steady growth of revenue month after month. As against an annual target fixed for the year 2016-2017 of Rs 4291.99 Crores the achievement in the first six months is Rs. 1935.30 Crores accounting for nearly 45% of the target. The revenue is mainly on sales and purchase transactions of lands and buildings,' the Principal Secretary to CMO said.
The corresponding growth rates of other southern states are far behind Telangana State. AP' growth rate is 12.27%, Karnataka's 2.31%, Kerala's 3.57% and Tamil Nadu's is minus 2.63%.
District (erstwhile) wise the figures for the first six months in seriatim are: Medak 47.94%, Adilabad 38.09%, Hyderabad 36.12%, Ranga Reddy 33.51%, Mahaboobnagar 32.30%, Warangal 27.25%, Karimnagar 22.62%, Nizamabad 21.74% and Nalgonda 6.99%. In all as many as 5, 76, 991 documents have been registered in all the districts put together as against 5, 22, 397 last year in the first six months.