SAMBALPUR: A month after demonetisation, the woes of people from different sections of the society are far from over. While there is no denying that queues in front of ATMs have shortened, the cash crunch has badly affected revenue collection from land registration in the district.
The earning from land registration has declined by about 50 per cent after the ban on ` 500 and `1,000 denomination currency notes. As per reports, revenue of around ` three crore is generated from land registration every month. But, in the last one month (November 8 to December 8) , revenue of only `1.76 crore has been collected from land registration.
The State Government collects stamp duty of 5 per cent and registration fee of 2 per cent on the total value of immovable property during registration.
Around 420 land registration cases are held in the district every month. There has also been a sharp decline in the number of land registration cases due to the impact of demonetisation. Only 327 land registration cases have taken place till December 8.
Admitting the decline in number of land registration cases due to demonetisation, District Sub-Registrar, Sambalpur, Manoj Kumar Debta said people are devoid of cash after demonetisation and it is difficult for them to buy land or building.
Debta said they would not be able to achieve the target of revenue generation from land registration during the current fiscal under the present conditions. The State Government had set a target to collect revenue of `27 crore from land registration during the current fiscal. But, only about `15.65 crore has been generated till December 8, he said.
Apprehensive of achieving the target of revenue generation from land registration, Debta said the target seems to be beyond their reach due to the impact of demonetisation.
Even the office of District Sub-Registrar in the city, which is usually buzzing with activities, is being found deserted now-a-days after demonetisation.