Number of registrations in TN dropped by 3.44% in 2023-24: Policy note

The fall is significant since registration department showed a rise in registration since 2020.
Image used for representational purposes only
Image used for representational purposes only

CHENNAI: There has been a 3.44% decline in the number of registration of documents during 2023-24, compared to the previous financial year of 2022-2023, according to the policy note tabled by Commercial Taxes and Registration department minister P Moorthy at the Assembly on Wednesday.

The fall is significant since registration department showed a rise in registration since 2020. According to the figures, the documents registered in 2022-23 were 34.41 lakh, but it came down to 33.22 lakh in 2023-24. However, the revenue collection from registration went up by 8.84 % from 17,296 crore in 2022-23 to `18,825 crore in 2023-24.

Meanwhile, the policy note pointed out the registration department has been implementing block chain technology for all the digitised documents registered from May 1, 2023. Since the digitised documents under this methodology have time stamps, the genuineness of the registered documents is being ensured without giving any room for editing and related frauds.This methodology is now being adopted for all the digitised documents.

Meanwhile, the government has accorded sanction for 2.22 crore for digitising records for the period from May 1, 1950 to December 31, 1974 at a cost of Rs 36.58 crore. Tender has been floated and bid evaluation process is under progress. This comes as more persons opt for applying for encumbrance certificate for the period from 1950 to 1974. As of now, Encumbrance Certificate for the period prior to 1975 is being issued manually.

For the next generation services in computerisation using the latest technologies, Artificial Intelligence and process automation, revamping of STAR 2.0 was proposed and announced in the year 2023-2024. The consultant of the project has been identified through Tamil Nadu e-governance agency. Tender was floated and bid evaluation is under process.

Gross collection of dept up by Rs 8.5K crore

The gross revenue collection of Commercial Taxes Department without Goods Service Tax (GST) is Rs 1.26 lakh crore for financial year (2023-2024),which is more than Rs 8,500 crore registered during the previous year (Rs 1.17 lakh crore), according to the policy note

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