Decline in Registration Revenue in Telangana Due to HYDRA Concerns
Officials point to several contributing factors for the decline in registrations, particularly in the Hyderabad metropolitan area, which typically sees the highest levels of activity.
Hyderabad: The Telangana government is grappling with a significant drop in registration revenue, resulting in a considerable shortfall in its finances. This decline is reportedly tied to concerns surrounding the Hyderabad Disaster Response and Asset Protection Agency (HYDRA).
In the current financial year, registration revenues for September and October have sharply decreased compared to the same months last year. September’s revenue totaled 857.83 crore, reflecting a 26.15% decrease from 1,162 crore in September 2022. As of October 26, 2023, the collections for October amount to 923.30 crore, down 24.4% from 1,221.82 crore in the previous year.
The number of registered deeds has also seen a notable decline. Between April and October of the 2023-24 fiscal year, 11.52 lakh deeds were registered, compared to just 10.16 lakh during the same period this year. Overall revenue for the first seven months of this fiscal year stands at 8,213.81 crore, which is 237.28 crore less than last year’s 8,451.09 crore. This figure falls short of the target of 9,936 crore, creating a deficit of 1,722.19 crore.
Officials point to several contributing factors for the decline in registrations, particularly in the Hyderabad metropolitan area, which typically sees the highest levels of activity. Key issues include fears related to HYDRA demolitions, a drop in registrations from overseas Telugu residents, and a slowdown in bank approvals for home loans.
