Hyderabad: Real estate transactions in Telangana have witnessed a huge spike in 2021-22. The sale of house plots, houses, and apartment flats is going on in full swing. As per an official statement, in the financial year 2021-22, real estate transactions worth over one lakh crore rupees were recorded. Remarkably, these have doubled in the last six years.
Hyderabad Metropolitan Development Authority (HMDA) is at the top in these transactions. It is noteworthy that one-third of the revenue from non-agricultural registrations is coming from Greater Hyderabad only. Eighty percent of the state's real estate sector is concentrated around Hyderabad. According to the analysis of the Department of Stamps and Registrations, 7.46 lakh plots, houses, and flats were sold in the last financial year, worth Rs 1.05 lakh crore.
Through these registrations, the government has collected an income of Rs 7,560 crores. It is noteworthy that the registrations are done for 45 percent more than the market value fixed by the government, which means the value of these transactions is estimated to be very large informally. In six years, sales of non-agricultural assets have almost doubled, and government revenue has tripled, the statement added.
In 2020-21, registrations slowed down due to the impact of the Covid-lockdowns, but the following year (2021-22) saw a record high in transactions. Plots are the highest in sales, followed by houses and flats. A total revenue of Rs.9,237 crore has been received by the government through registrations. A total of Rs 7,560 crore has been accumulated through the purchase and sale of plots, houses, and flats.
The rest of the income is generated through gifts, settlement, GPA, and other elements. Although the number is said to be small, the government got the highest income of Rs 2,841 crores from the sale of flats. Twenty-five applications for plot regularization (LRS) in informal layouts have been received by the government. Most of the real estate transactions are taking place in the HMDA areas of Ranga Reddy, Medchal-Malkajigiri, Yadadri-Bhuvanagiri, and Mahabubnagar districts around Hyderabad.
HMDA region is leading in terms of assets value as well as the number of transactions. Eighty percent of the revenue is collected under HMDA alone through registrations of non-agricultural properties. Revenue from registrations has grown by nearly 150 percent in six years. The registration department earned Rs 1,401 crore in 2016-17 and Rs 3,378 crore in the previous financial year.
It is noteworthy that this is about 36 percent of the non-agricultural registration revenue received across the state.
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