Sunday, 1 April 2012
Guideline Value & Property Valuation
As a result of the massive rush at the registrar offices in the district to get property documents registered before the implementation of the revised land guideline values from April 1, the district registration department offices have earned a total revenue of Rs 570 crore in the present financial year.
The 17 offices including two district registrar offices have achieved 83% revenue generation this year against the target of Rs 681 proposed by the state registration department. The total revenue generated at these offices during the month of March alone is Rs 63.9 crore according to official sources.
"There was a huge last minute rush on Thursday and Friday at all the offices as people wanted to get their documents ready before the new rates come into effect," said a senior official at district registrar office.
The maximum number of registrations was done at Sulur sub registrar office where 315 documents were registered on Friday followed by Mettupalayam, Periyanaickenpalayam and Singanallur with 307, 292 and 262 documents respectively.
The total revenue earned on Friday alone was Rs 12.85 crore after 3053 documents were registered bringing in Rs 11.2 crore as stamp duty and Rs 1.56 crore as registration fee on Friday alone.
"The government's decision to enforce the new rate in the budget resulted in people rushing to the registrar offices to get their property registered before the last date," said another official.
The frequent power disruption and shortage of adequate staff members at the registration centres posed major issue for the officials to complete the proceedings. Almost all these offices had stayed open well past their normal working hours on Thursday and Friday to complete the proceedings as more than 100 tokens were issued to the public.
The sub registrar offices at Ganapathy and Negamam witnessed minimum footfall on Friday with 79 property deeds getting registered at these centres.
As a result of the massive rush at the registrar offices in the district to get property documents registered before the implementation of the revised land guideline values from April 1, the district registration department offices have earned a total revenue of Rs 570 crore in the present financial year.
The 17 offices including two district registrar offices have achieved 83% revenue generation this year against the target of Rs 681 proposed by the state registration department. The total revenue generated at these offices during the month of March alone is Rs 63.9 crore according to official sources.
"There was a huge last minute rush on Thursday and Friday at all the offices as people wanted to get their documents ready before the new rates come into effect," said a senior official at district registrar office.
The maximum number of registrations was done at Sulur sub registrar office where 315 documents were registered on Friday followed by Mettupalayam, Periyanaickenpalayam and Singanallur with 307, 292 and 262 documents respectively.
The total revenue earned on Friday alone was Rs 12.85 crore after 3053 documents were registered bringing in Rs 11.2 crore as stamp duty and Rs 1.56 crore as registration fee on Friday alone.
"The government's decision to enforce the new rate in the budget resulted in people rushing to the registrar offices to get their property registered before the last date," said another official.
The frequent power disruption and shortage of adequate staff members at the registration centres posed major issue for the officials to complete the proceedings. Almost all these offices had stayed open well past their normal working hours on Thursday and Friday to complete the proceedings as more than 100 tokens were issued to the public.
The sub registrar offices at Ganapathy and Negamam witnessed minimum footfall on Friday with 79 property deeds getting registered at these centres.
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