INDORE: Indore-Ujjain division recorded around Rs 250 crore rise in revenue generation through property registration that increased by about 9% in the last calendar year compared to 2022.
Districts, especially Agar-Malwa, Shajapur, Khargone, Indore, Ujjain and Alirajpur, saw a considerable rise in property registrations that earned the stamp and registrar department around Rs 250 crore, 6.5% more revenue in 2023 compared to 2022 calendar year, senior officials concerned said.
The division had recorded earning of 3,831.43 crore through close to 5 lakh property registrations in the calendar year 2022, while in 2023, this earning increased to Rs 4,083.48 crore through registration of around 5.44 lakh property between January 1 and December 31. Of this, more than 50% contribution was made by Indore district as its income increased from close Rs 2100 crore through 1.58 lakh property registration in 2022 to around Rs 2,273 crore through 1.68 lakh registration of property in 2023.
Agar-Malwa recorded a rise of 26.29% revenue, followed by Shajapur (25.49%), Khargone (24.47%), Ujjain (12.33%), Alirajpur (7.56%), Khandwa (6.05%), Dewas (2.88%) and Burhanpur (0.51%).
Jhabua (-19.11%), Barwani (-9.63%) Ratlam (-5.14%), Dhar (-5.09%) and Mandsaur (-2.54%) recorded a decrease of in revenue generation through property registration.
“There are different factors, including population, new residential schemes, prospects of the district and mega projects of Centre and state governments that make a direct impact on the real estate market and property registrations,” said DIG stamp and registrar (Indore-Ujjain division) Balkrishna More.
“By end of the financial year, we are confident to achieve the targets set for all the districts of Indore-Ujjain division,” he said.
