Maharashtra's IGR Dept earns Rs 501.43 billion in FY24
ECONOMY & POLICY

Maharashtra's IGR Dept earns Rs 501.43 billion in FY24

The state government had announced that it had achieved its revenue target of Rs 500 billion for the financial year 2023-24, attributing this success to robust property registrations.

It was stated that the registration of property with the Inspector General of Registration (IGR) department played a pivotal role in bolstering the state exchequer.

They had collected Rs 501.42 billion, with approximately 29.17 lakh documents registered at the state registration offices by March 31. The initial target had been set at Rs 450 billion, which was later revised to Rs 500 billion. Sonawane mentioned that the target had been increased several months ago and was successfully met due to consistent registrations.

The department had opted to keep its offices open on the last three days of the financial year. During this period, a total of 24,112 documents were registered, generating earnings of Rs 11 billion.

Officials further noted that e-registrations from builders' offices had also significantly contributed to the high revenue collection, with approximately 12.22 lakh documents registered in the last financial year.

The state government had announced that it had achieved its revenue target of Rs 500 billion for the financial year 2023-24, attributing this success to robust property registrations. It was stated that the registration of property with the Inspector General of Registration (IGR) department played a pivotal role in bolstering the state exchequer. They had collected Rs 501.42 billion, with approximately 29.17 lakh documents registered at the state registration offices by March 31. The initial target had been set at Rs 450 billion, which was later revised to Rs 500 billion. Sonawane mentioned that the target had been increased several months ago and was successfully met due to consistent registrations. The department had opted to keep its offices open on the last three days of the financial year. During this period, a total of 24,112 documents were registered, generating earnings of Rs 11 billion. Officials further noted that e-registrations from builders' offices had also significantly contributed to the high revenue collection, with approximately 12.22 lakh documents registered in the last financial year.

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