Revenue from property registrations up 7% in dist

Indore: More than 11,000 property documents were registered in Indore in April clocking 7.6% higher revenue from a year ago in the same period, while revenues in Indore and Ujjain divisions in April saw a jump of 3% year-on-year.
Income from property registrations in Indore stood at Rs 141 crore in April as against Rs 131 crore in the same period a year ago, according to the official data.

Balkrishna More, deputy inspector general of registration Indore region said, “A total of 37,771 property documents were registered in Indore and Ujjain divisions in April of which the highest were recorded in Indore with 11,519 properties. Overall property registrations have improved year-on-year though some districts saw a decline from the previous year in the same period.”
Dhar, Alirajpur, Barwani and Dewas witnessed a drop in revenues due to decline in property registrations, according to the official data.
Deals for a total of 37,771 property documents were signed in April in 15 districts under Indore and Ujjain divisions, official data showed.
Revenues from signing of property deals in Indore and Ujjain divisions in April surged to Rs 254.5 crore, up 3.4% from the same period last year.
Confederation of Real Estate Developers Association (CREDAI), Indore chairman Gopal Goyal said, “Property market is growing on a positive note in Indore on good demand for residential and commercial properties. An encouraging number of registrations were seen in April due to festivals.”
In the financial year 2023-24, a record 1.7 lakh properties were sold in Indore generating revenue of Rs 2,410 crore, highest in the Indore-Ujjain division. In the Indore-Ujjain division more than 5.7 lakh properties were sold in the last fiscal and total revenues earned from registration of property deeds were Rs 4,304 crore.