HYDERABAD: Property registrations have been going up in Telangana even after the State government increased its stamp fee and the land value by more than 400 per cent. Following the increase of registrations, senior officials of the Registration & Stamps Department feel that people prefer to invest their savings by purchasing immovable properties.
According to officials, the revenue of the Registration & Stamps Department crossed at least `700 crore during the month of July by performing registrations at all Sub Registration Offices (SROs). “Approximately `700 crore transactions were done in July by doing several property registrations and collecting stamp fee as per the revised fee structure. Even as the government increased stamp fee and revised its land value, there was no dip in buyers,” said officials.
Buyers have shown their interest in purchasing open plots, commercial properties and residential places by investing their money. “It’s clearly indicated that people are interested in investing their savings in purchasing properties in the State and city,” said officials.