Revenue from property registrations goes down in Nellore
Revenue from property registrations has come down considerably in Nellore district in Andhra Pradesh. The dip in revenue is due to a slump in real estate activities in Nellore.
The slump has been attributed to nearly Rs.500 crore stuck in circulation schemes. Moreover, investors are interested in buying gold and silver instead of land or buildings, because liquidity is being considered easier than land.
While the target of the registration department in Nellore district for 2012-13 is Rs.47.80 crore up to July 2012, achievement is Rs.31.73 crore only. The realtors have also stated that the government’s recent directive to register agricultural land based on availability of pattadar passbooks is affecting transaction.
To read more real estate news:
Vijayawada becoming real estate destination
Andhra Pradesh, buying gold and silver, circulation schemes, Nellore, pattadar passbooks, Property registrations, Revenue collection, slump in real estate market
