Real estate boom boosts revenue generation in Srikakulam

Increase in land transactions along the national highway

Unauthorised transactions have come down, says official

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 The Registration and Stamps Department of Srikakulam district is expected to generate more than Rs.50 crore in revenue in the current financial year 2010-11, thanks to real estate boom in places like Rajam, palakonda,Ranasthalam and Pydibhimavaram Ponduru. Land transactions increased all along the national highway and surrounding places because of industrialisation.Hundreds of acres of land is being provided to irrigation facilities in several mandals, leading to further boom in real estate. The department, which generated 44.71 crore in the previous financial year, has already crossed Rs.45.51crore. With the increase of registrations in all the15 sub-registrar offices across the district, the department estimated that it would reach Rs.50 crore easily by end of March, 2011.

Registrar of Srikakulam District B.Apparao told  that there is a significant increase in the number of transactions. According to him, about 42,000 transactions, which amounted to an increase of 10 per cent compared to previous year, had taken place in the district.
“We installed new computers and technology for the speedy completion of registration in Srikakulam town and other places to deal with the increase in the land transactions,” said B.Appa Rao. “Unauthorised transactions have come down as people are keen to registrar their documents with the increes the land values.it has also enabled the department to generate more revenue''he added