GUNTUR: After a two-year hiatus, the registration department has surpassed its targets as the number of land registrations rose in the current fiscal.Earlier, the real estate sector in the district had witnessed a downfall in view of the Covid-19 pandemic. However, after the reorganisation of the districts Palnadu and Bapatla districts have benefitted as several new ventures were set up giving a push to real estate, the condition remained the same in Guntur district.
But in the first half of 2022-23 fiscal, the district has already surpassed the targets which was not the case last year, as only 500 crore income was collected. The State government had set up a target of Rs 708 crore for this fiscal, of which an income of Rs 420 crore was reported by September in 18 sub-registrar offices in the district.
As many as 69,546 registrations were recorded in the district. Mangalagiri sub-registrar office recorded the highest of 10,621 registration followed by 9,745 in Guntur, 7,934 in Nallapdu, 5,377 in Koritepadu, 3,152 in Chebrolu, 3,067 in Duggirala, 1,703 in Kollipara, 3,961 in Ponnuru, 3,062 in Prathipadu, 4,083 in Tenali, 2,071 in Tenali West, 3,275 in Tadikonda, 3,771 in Pedakakani, 1,442 in Kakumanu, 2,571 in Phirangipuram, 1,443 in Thulluru, 1,283 in Mandadam and 995 in Ananthavaram. While the Guntur sub-registrar office reported the highest income of Rs 81.71 crore, Mangalagiri recorded Rs 79 crore. Kakumanu recorded the lowest income of Rs 3.09 crore income.
K Rama Raju, a realtor in Guntur, opined that the financial condition of several people was affected due to the pandemic. The land value is higher in Guntur than in other regions of the erstwhile Guntur district. Those who had planned to set up new ventures in Guntur, decided to shift to newly-formed districts, anticipating a rise in land value, which resulted in a boom in real estate in those districts. But as the condition is getting back to normal, the registrations also picked up in Guntur, he added.
