Key Points
According to the IGR office, the rapid urbanisation of the newly merged areas with the municipal corporations and councils and the rapid expansion of cities has led to a large number of property transactions leading to robust revenue growth across all areas of the state..
The Inspector General of Registration and Stamps has posted a revenue earning of 47,438 crore for 2023-2024 compared as compared to 44,681 crore the previous year..
The State Revenue Department had directed the IGR office to achieve a revenue target of 50,000 crore for the current fiscal year..
Rapid urbanisation, coupled with burgeoning real estate transactions in both urban and peri-urban areas, has significantly contributed to the departments robust revenue stream, he said ..
IGR office in a statement said as the fiscal year draws to a close, the Department of Registration and Stamps stands poised to not only meet but potentially exceed the formidable revenue target, bolstering the states coffers and facilitating critical development endeavours..
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