Demonetization: ₹100 cr. dip in land registration revenue in Kerala
Synopsis
It is estimated that the demonetization incurred a dip in land registration revenue to the tune of ₹100 crore to the state exchequer in the past month.
The demonetization and the currency crunch has brought property transactions in Kerala to a stand still.
It is estimated that the demonetization incurred a dip in land registration revenue to the tune of ₹100 crore to the state exchequer in the past month.
As per the online token data, the number of land transactions has come down to one or two per day in registrar offices across the state that used to witness more than 20 transactions. Some sub-registrar offices did not even register a single land deal in the past few weeks.
The demonetization has brought the real estate business in the state to a grinding halt and even small land transactions are affected.