Realty continues thrust in Hyderabad
The real estate sector in Hyderabad has continued its upward march by registering a sustained momentum of growth in the past six months. Propelled by a positive market sentiment and supported by various initiatives of the State government in recent times, the revenue collections of the Registrations and Stamps Department between April and September this year have touched new record levels. Between April and September, the Registrations and Stamps Department received revenues to the tune of Rs. 3,158 crore as against a revenue collection of around Rs.2,000 crore during the same period last year. Even the number of documents received for registrations was pretty high this year, compared to last year. Between this April and September, the department received close to 7.5 lakh documents while last year, the figure was close to 5.21 lakh documents. Apart from registrations, the department also generated record revenue through e-stamps, which are needed for registrations. According to the latest figures available, in the present quarter, i.e. between July and September, the department has made revenue collections of Rs. 1,654 crore, while last year during the same time, the revenue collections through e-stamps was Rs. 1,097 crore. In terms of district-wise percentage of revenue collections, regions falling under Rangareddy and Medchal-Malkajgiri districts appear to be hot favourites for real estate investment and transactions. Both the districts together contributed a whopping 56 per cent of the revenue generated through real estate transactions by the Registrations and Stamps Department. The Hyderabad (South) and Hyderabad core regions have contributed close to 14 per cent of the overall revenue through real estate transactions. Between June and September, Rangareddy district alone generated revenue of Rs. 5,121 crore with the Registrations wing receiving 83,395 documents for registrations. The real estate transactions in Medchal-Malkajgiri district raised a revenue of Rs. 3,157 crore with close to 43,251 documents received for processing.
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