SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Tamil Nadu's registration department sees revenue boost following guideline value revision

#Taxation & Finance News#India#Tamil Nadu
Last Updated : 21st Nov, 2024
Synopsis

The revision of guideline values in Tamil Nadu has significantly boosted the state's registration department revenue, adding INR 1,222 crore in the first seven months of FY 2024-25 compared to the previous year. Revenue rose from INR 10,511 crore to INR 11,733 crore, driven by higher registration fees and increased transaction volumes. During a review meeting, Revenue and Registration Minister P. Moorthy emphasized faster processing and digitalisation to enhance efficiency and transparency. Ahead of the busy Aippasi month, token allocations were increased to manage demand at registration offices. These measures reflect the government's commitment to improving service delivery and streamlining property registration processes.

The changes in guideline values across Tamil Nadu has brought about a significant boost in revenue for the state's registration department. The changes led to an additional INR 1,222 crore being collected in the first seven months of the current financial year, when compared to the same period in the previous year.


According to reports from the registration department, the revenue for the period spanning from April to October in the 2023-2024 financial year stood at INR 10,511 crore. However, during the same period in 2024-2025, the revenue saw a substantial increase, rising to INR 11,733 crore. This indicates a healthy rise in revenue, attributed to the recent revisions in guideline values, which directly impact the registration fees and the overall volume of transactions.

The data was presented during a review meeting convened by the state's Revenue and Registration Minister, P Moorthy. During this meeting, the minister emphasised the importance of improving the efficiency of the registration process. He directed officials to ensure that registered documents are returned to applicants without unnecessary delays, stressing the need for faster processing to meet public expectations. The minister also called for the further streamlining of the registration process to minimise bottlenecks and enhance overall service delivery.

In addition, the minister encouraged the accelerated delivery of certificates and permits via the online portal, in a bid to make the process more transparent and convenient for citizens. This move is aligned with the state government's ongoing push towards digitalisation and reducing paperwork, which should significantly ease the registration experience for the public.

With the Aippasi month, a peak period for property-related registrations, fast approaching, the registration department has made special arrangements to handle the anticipated increase in demand. Additional token allocations were announced for the 14th and 15th of November, aiming to manage the influx of applicants more efficiently. On these dates, registration offices with one sub-registrar will issue 150 tokens, up from the usual 100. Offices with two sub-registrars will increase their token allocation to 300, while high-demand offices will also raise their token numbers to 150, ensuring that more people are able to access the services they need. These efforts are designed to make the process smoother and more convenient for applicants during these busy days.

The measures taken by the registration department reflect an ongoing commitment to improve service quality and meet the growing demands of Tamil Nadu's residents, particularly during peak times when property transactions and registrations see a significant rise.

The increase in revenue following the revision of guideline values demonstrates the effectiveness of the changes in boosting the state's registration system. The efforts to streamline processes, alongside digital improvements, highlight the government's commitment to enhancing service delivery. With additional token allocations during peak periods, Tamil Nadu is working to manage higher demands efficiently, ensuring a smoother and more accessible experience for property registration applicants, particularly during busy months like Aippasi.

Have something to say? Post your comment