
GUNTUR: In a record achievement, the Stamps and Registration Department of Andhra Pradesh recorded 68,000 property registrations and generated Rs 475.44 crore in revenue from January 27 to February 3.
The surge was driven by property buyers rushing to finalise transactions before the revised registration rates came into effect on February 1.
According to official data, the State logged an impressive 56,649 registrations, generating Rs 356.25 crore in revenue, from January 27 to 31. Even after the new land registration prices were implemented, 11,667 properties were registered on February 1 and 3, bringing in Rs 117.6 crore in revenue.
The State government had issued an order stating that land registration rates would be revised based on various factors, including location and developmental activities. As a result, land prices increased in 16,997 villages and 9,054 municipal and urban wards, while remaining unchanged in 68 villages.
However, 158 villages and 145 urban wards recorded a decline in land prices. Reports suggest that land registration values dropped in Guntur and Kakinada, while a 3% to 9% increase was recorded in Vijayawada, Visakhapatnam, Eluru, Dr BR Ambedkar Konaseema, and Prakasam districts.
AP gets Rs 7,170.62 crore from land registration
Stamps and Registration officials stated that the new land values would enable property owners to secure higher bank loans based on more accurate land valuations. Additionally, the government expects increased revenue, which will be utilised for public welfare initiatives. Bankers also anticipate more precise assessments of land values following this adjustment.
In December alone, the State generated Rs 951.29 crore in net revenue, marking a 32.32% growth compared to the same month last year. Registrations also rose by 18.99%, with 31,525 transactions logged in a single month.
For 2024-25, the AP government has set a revenue target of Rs 13,500 crore. However, in the ten months leading up to January 2025, revenue from land registrations stood at Rs 7,170.62 crore, recording a 7.41% dip compared to the same period last year. Real estate experts believe that the revised land values will boost the sector and increase registrations before this fiscal year ends.