Moneycontrol Be a Pro
Get App
you are here: HomeNewsIndia
Last Updated : | Source: PTI

Land sale up after Chhattisgarh lifts ban on small plots registry

The number of land registries, particularly of small plots, crossed one lakh in first six months of the current financial year, a government official said.


The sale and purchase of land plots significantly increased in Chhattisgarh after the state government lifted the ban on registry of small plots and reduced the registry charges, an official said.

The number of land registries, particularly of small plots, crossed one lakh in first six months of the current financial year, a government official said.

Taking note of the inconvenience faced by middle class and economically weaker sections in purchasing land plots and building their own houses, Chief Minister Bhupesh Baghel in April this year withdrew the ban on registry of small land plots of up to five decimal (one decimal is equal to 435.6 square feet), he said.

Close

Later, the state government also decided to provide 30 per cent rebate on registry fee, he said.

According to the online registry record, the number of registries done during six months (April to September, 2019) is 26 per cent more than those done during the same period last fiscal.

The revenue collection also increased by 33 per cent following the government's decision, he said.

From April to September, more than 1.2 lakh plots, mostly smaller ones, were registered, as a result of which the state government earned a revenue of Rs 605.9 crore, he said.

The decision will boost the growth of real estate and construction sector and will also create more employment opportunities, he added.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Oct 7, 2019 10:01 am
Loading...
NULL int(1)
Sections
Follow us on
Available On
PCI DSS Compliant