The stamps and registration department in the jurisdiction of Visakhapatnam urban district registered a 40 per cent increase in revenues during the first quarter of the current fiscal. Vizag district is the highest contributor to the department.
During the first quarter, the department earned revenues of Rs 75.25 crore with 11,673 document registration as against Rs 53.99 crore on registration of 9,397 documents in the previous year corresponding period, said Dhamodhar Rao, district registrar, Visakhapatnam urban district. Revenues last year stood at Rs 231.17 crore and was expected to touch touch Rs 350 crore this year, he added.
Post division of the state, particularly small investors have started investing in plots and flats in and around Vizag, said K Subba Raju, chairman, Credai - AP Chapter.
Though properties prices had not increased much in the region, small investors were investing Rs 20-30 lakh in house sites in approved layouts, according to him.
