E-Paper
Noida: Stamp and registration department generates just 16% revenue in May
Noida:
Noida:
The Covid-19 pandemic has badly affected the earnings of the stamp and registration department of Gautam Budh Nagar. The department in May managed to generate only 16% revenue in stamp duty and property registration compared to that of March, officials said on Tuesday.
After a gap of over a month, the property registration restarted in the district on May 4. According to the officials, those who want to get the registry of property done are given a fixed time slots based on the appointment acquired through telephone.
During the 26 days of May, the total revenue generated was Rs 20 crore, against about Rs 125 crore in 24 days of March, the officials said, adding that the department, on average, earns a revenue of Rs 150 crore per month in normal days. The collection for the month of February was also around Rs 125 crore, the officials said.
Notably, the registration of property is a major source of income for the state government.
The officials said that while commercial property registrations were negligible, only 2,500 registrations could be done from May 4 to June 15. This is a meagre number considering that the department usually does about 15,000 registrations in a month, they said.
“Total revenue generated till date (from May 4 to June 15) is Rs 30 crore, which is very less considering the amount generated in a month’s time before the lockdown. Of the total revenue generated during the said period, most have come from the rural areas. The registration of apartments and commercial property is almost nil,” said SK Tripathi, assistant inspector general (registration), Gautam Budh Nagar.
“The main reason is the Covid-19 pandemic. People are very cautious, and are not making any investment. Only those in need are selling or buying property,” he added.
Tripathi said that most of the registrations were of agriculture properties from areas like Dadri and Jewar.
There are six registration offices in the district, of which three are in Noida, and one each in Greater Noida, Dadri and Jewar.
“In normal days, the number of total registrations is at least 500 per day in the district, which has now shrunk to 100 to 120 a day. The property business is really poor due to the ongoing pandemic,” said Pradeep Asthana, senior registrar, GB Nagar.
