Registration dept records significant drop in revenue due to decrease in number of stamp papers

THIRUVANANTHAPURAM: There is a reduction of Rs 442.78 crores in the income of the registration department compared to the financial year 2022-23. The revenue dropped from Rs 5219.34 crore in the last financial year to Rs 5662.12 crore in 22-23.

The fall in revenue was due to a decrease of 1,50,798 in the number of stamp papers. Inspector General of Registration Sreedhanya Suresh said that despite such a low number of stamp papers, it was an achievement to achieve over 5000 crores.

Ernakulam district had the highest revenue (Rs 1166.69 crores). Thiruvananthapuram, Idukki, Palakkad, Kozhikode, Kannur and Kasaragod districts achieved more than 90 percent of the target revenue. A 20 percent increase in the fair value of land was announced in the 2023 budget. In view of this, the sharp increase in registrations in the months of February and March is the reason for the record revenue in the previous financial year. In 2022-23, 10,36,863 Aadhaars were registered, while in 2023-24, it decreased to 8,86,065.

Kollam, Pathanamthitta, Alappuzha, Kottayam, Ernakulam, Thrissur and Malappuram districts achieved over 80 percent of the target. Wayanad recorded the lowest revenue with Rs 103.28 crore.