Registrar’s Offices have been advised to act as registrations of property may be lower than the last fiscal year, and the target may be lost.
Asset Registration is one of the major companies earning government revenue and has contributed Rs 11,100 crore in 2018-19. Registration department sources said it was difficult to reach the previous year’s collection. “We expected revenue to be over Rs 11,100 crore last year, however it is a difficult task to achieve the target of Rs 13,122 crore set by the government.
Now, considering the coronavirus crisis, it is not possible to match 2018-19 earnings, ”said a logistics official.
March is an important month for the Department, as there are a large number of documents filed with financial institutions for loans.
Property registration in the city and suburbs has been hampered as people have postponed the outbreak of the Corona virus. There are a minimum number of footfalls in the Office of the Deputy Registrar.
