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Sun, Aug 20, 2017 | Last Updated 5:35 am IST

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Modi's Demonetization Continues to haunt AP

Modi's Demonetization Continues to haunt AP
Modi's Demonetization Continues to haunt AP
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Stamps and Registration Department is the major money spinner for Andhra Pradesh for a long time due to the Real Boom in Hyderabad. The government has set a target of 4000 Crore in this financial year but then, things are not rosy for that, much to the disappointment.

Modi

In the first quarter, the department has managed to collect 920 Crores income. During the same time, the last year, the department has managed 1006.05 Crore which is 113.45 Crore less. The number of registrations also saw a sharp decline.

Modi

The government is estimating Demonetization as the Prime Reason for this decline. The transactions are on a decline since there is no availability of cash in the system. Also, the government needs to increase the Market Value of lands in the Capital Region.

Modi

The rates have gone up there very much after the state capital announcement. But still, the old rates are prevalent there. Except for Nellore, Chittoor, Kadapa, Anantapur, and Kurnool where the targets are less, no other districts have met their targets in the first quarter.


Modi's Demonetization Continues to haunt AP
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Nimisha is a typical Hyderabadi who raves about food and films. Formerly a Techie employed with Satyam, she writes about cinema since eight years and as for the other passion, she is a popular food blogger. She completely took her passion as work post the Satyam fiasco. Besides food and films, she is also fascinated to history and cricket.