In Chennai, the regularization of illegal plots scheme increased the revenue inflow of the revenue registration department to Rs.10,000 crore in 11 months. The department has touched new heights with this figure.
The Chennai zone contributed over 40 percent of the total revenue in the State and this is being the highest revenue generation via land registration all over the state.
As per the sources, the property registrations recorded revenue is likely to stand at Rs. 9,907 crores from April 2018 to February 2019.
One of the officials said that the revenue crossed the mark of Rs. 10,000 crore in the first week of March. Nearly 23.10 lakh documents are registered between April 2018 and February 2019.
Also, the number of documents registered saw an increase of 15% in comparison to the previous 11-month period that was from April 2017 to February 2017. The revenue escalated by 22 percent approximately.
The sources also said that the Chennai registration zone comprises of sub-registrar offices in the city, Kancheepuram and Tiruvallur districts contributed 42% of the total revenue. In the last financial year, the department earned Rs. 9,121 crores form property registration.
The officials said that the increase in revenue from property registration is primarily because of the regularization of illegal plots scheme that facilitated sale of illegal residential plots. This decision boosted the revenue generation in the city.
Last year, an information technology-enabled service, STAR 2.0 (Simplified and Transparent Administration of Registration) was introduced that bought online registration of all the property transactions into work.