The Telangana government’s registration revenue is witnessing a decline, causing a notable shortfall for the exchequer, allegedly due to the fear of the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA). In this financial year, revenues from registrations in both September and October have dropped significantly compared to the same months last year.
The income recorded in September stood at Rs. 857.83 crore—a 26.15% decline from Rs. 1,162 crore in September 2023. Similarly, as of October 26 this year, revenue for October has decreased by 24.4%, with collections reaching Rs. 923.30 crore compared to Rs. 1,221.82 crore the previous year.
In terms of registered deeds, activity has also declined. Between April and October of the 2023-24 financial year, 11.52 lakh deeds were registered, whereas this year, registrations dropped to 10.16 lakh over the same period. Revenue in the first seven months of this fiscal year stands at Rs. 8,213.81 crore, which is Rs. 237.28 crore less than last year’s Rs. 8,451.09 crore. This figure falls short of the target of Rs. 9,936 crore, creating a deficit of Rs. 1,722.19 crore.
Officials attribute the decline in registrations to various factors. The Hyderabad metropolitan area, traditionally accounting for the highest registrations, has seen a drop due to issues such as HYDRAA demolitions, a decrease in registrations from overseas Telugu residents, and a slowdown in bank home loan approvals.