The Telangana government is expecting to garner higher revenue from stamps and registrations in the current fiscal and sets a target of ₹18,500 crore.
In the last financial year, stamps and registration department contributed ₹14,588 crore to the State Exchequer and special measures are being planned to ramp up revenue this year, according to official sources.
Apart from plugging loopholes, the government is also planning to increase market value of lands from next month as part of its efforts to increase revenue.
The last two quarters were relatively dull for the department as transactions slowed down due to elections. The department earned a revenue of ₹3,322 crore from April 1 to June 27.
Budget proposals
The increased revenue target for FY25 assumes importance as the State government is drawing up proposals for the full-fledged Budget to be presented during this month.
All the departments have been asked by the Finance Ministry to submit detailed proposals ahead of the Budget to be presented soon. After winning the mandate, A Revanth Reddy-led Congress government in the State presented only a vote-on-account Budget.