Tamil Nadu eyes revenue jump through property registrations

P Moorthy, Tamil Nadu's minister for commercial taxes and registration, held a review meeting with registration officials after the second wave of Covid-19 to discuss ways to boost revenue through property registrations. Land registrations were disrupted for four months during the first wave of Covid-19 last year. During the meeting, the importance of taking steps to increase revenue was emphasised, as the revival of registration offices was faster than expected in 2020. The pandemic year of fiscal 2020-21 generated Rs 10,643 crore in revenue from stamp duty and registration fees between April 2020 and March 2021. The revenue generated in the 2019-2020 financial year was Rs 11,028 crore, down 3.6 % from the previous year. According to the media Officials have been told not to register properties of temples under the Hindu religious and charitable endowments department's jurisdiction, water bodies, or poramboke land under Section 22-A of the Registration (Tamil Nadu Amendment) Act. If the previous land transaction refers to the plot as a house site, the Act makes it easier to re-register it. Returning documents on the same day to avoid delays, as well as measures to prevent employees from arriving late to work and the progress of the recently launched grievance control room, were all discussed. The meeting was attended by registration secretary B Jothi Nirmalasamy, registration inspector general M P Sivanarul, and senior registration department officials, according to an official release. Image Source Also read: Luxury homes in Mumbai record transactions worth Rs 4k cr in H1, 2021 Also read: Pune civic body urges govt to release stamp duty revenue share