Karnataka nets Rs 311 crore in a day with record 26,000 property registrations, ET RealEstate

September 28, 2023

BENGALURU: Karnataka on Wednesday set a new singleday record for property conveyance (or, ‘sale of properties’, in common parlance) by registering a whopping 26,000 properties and collecting a revenue of Rs 311 crore.

Bengaluru alone contributed a staggering Rs 218 crore in revenue with the registration of 7,300 properties, which comes days before the revised guidance value regime kicks in on October 1, reports Niranjan Kaggere.

For perspective, the department witnesses 8,000 to 10,000 property registrations fetching a revenue of Rs 70-80 crore on a normal day. Officials from the stamps and registration department told TOI that this is the highest-ever single-day collection in the 157-year history of the department.

Revenue minister Krishna Byregowda thanked all the staffers of the department for accomplishing a record feat. Mamatha BR, inspectorgeneral of registration and commissioner of stamps, said all these registrations were processed through Kaveri-2 software.

“As subregistrar offices have been working from 8am to 8pm to facilitate property registration ahead of the revision in guidance values from October 1, there has been heavy rush at all registration offices,” she explained. Mamatha said: “On very few occasions we had seen registration of up to 10,000 properties in a day.

But Wednesday was unprecedented: In Bengaluru alone, we collected Rs 218 crore by registering 7,348 properties at 42 offices. Some registrars’ offices have facilitated the registration of 300 properties while on a normal day, they would process about 100 to 150 properties.”

The government introduced Kaveri-2 software, which ensured any property registration in less than 10-15 minutes. Krishna Byregowda said, “Our support for implementation of Kaveri-2 has been proved right and adoption of technology has helped the government scale greater heights. This unbelievable handling of such a staggering load has shown the software’s capability.”

  • Published On Sep 28, 2023 at 04:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment