State government on Friday claimed that its new policy decisions taken to boost the real estate business were delivering desired results.
On one hand with the decisions the medium income group have heaved a sigh of relief and their dreams of owning a house are taking shape, the government too is benefitted as the revenue collection increased, as comparable to previous year, by 69% in past 45 days, official sources claimed.
According to official sources the revenue earning from July 25 to September 10 was recorded to be Rs 152 crore whereas Rs 90 crore in the same period last year. Thus the hike in revenue earned this year was 69%.
Citing the reason for the same official sources said the slashing off the guideline rates of the properties, removing ban on sale of small plots and easing of the process of land diversion and transfer had provided relief to citizen to a great extent.
Notable, the state government had reduced the registry fee of buildings and flats from 4% to 2%. Similarly, the process of land transfer and registry was also eased and single window system was initiated. The approval and issuance of no objection certificates for residential township was also eased, officials claimed.
They said the decisions proved to be an win-win situation for all and are boosting the real estate sector.