One indicator for the growth potential of Andhra Pradesh is its steady increase in revenue posted by the Registration and Stamps Department during the current financial year (2015-16).
Whether it is speculative investment in real estate or a well-considered decision, investors, apparently, are optimistic that the State’s economy will look up when the capital construction starts in a few months from now, and it will have a ripple effect on other sectors, too.
Real estate transactions
Despite the delay in the announcement of big-ticket incentives for industries in the State by the Centre, as promised in the AP State Reorganisation Act, real estate transactions are brisk in all districts, with the average growth in revenue till November-end, compared to the corresponding period in 2014-15, is 38.82 per cent.
The department earned Rs. 2,380.02 crore till November-end, as against Rs. 1,714.45 crore realised in the same period last year. The first quarter earnings this year was Rs. 813.14 crore (Rs. 551.55 crore in 2014-15), while in the second quarter, it was Rs. 996.31 crore (Rs. 764.32 crore).
The department has set a revenue target of Rs. 3,500 crore for current financial year and Rs. 2,400 crore till November.
So far, the revenue achievement has been around 93 per cent of the target.
Among the 13 districts, Srikakulam and Vizianagaram registered the highest growth rate for the Registration and Stamps Department. Srikakulam, the most backward district, achieved the highest growth of 99.02 per cent till November, but its stamps and registration revenue, at Rs. 57.13 crore, is the lowest among the districts.
However, its growth rate registered a spurt, as it contributed only Rs. 28.71 crore to the department’s revenue in the same period last year.
Vizianagaram figured next, with a growth rate of 97.5 per cent and a revenue of Rs. 114.9 crore, as against Rs. 58.22 crore last November.
In terms of revenue, Visakhapatnam continued to contribute the highest net proceeds of Rs. 375.32 crore to the department’s kitty, though its growth rate is 52.8 per cent.
After Visakhapatnam, the department earned Rs. 340 crore from Krishna, Rs. 337 crore from Guntur, Rs.289 crore from East Godavari and Rs.207 crore from West Godavari.
In Rayalaseema, Chittoor contributed the highest revenue of Rs. 137 crore to the department and Kadapa the lowest with Rs. 67 crore.
Nets Rs. 2,380 crore till November against Rs. 1,714.45 crore realised in the same period last year