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The Karnataka stamps and registration department has achieved an unprecedented milestone in its history on September 27, by amassing an impressive revenue of Rs 311 crore in a single day. This feat was accomplished after registering an astounding 26,058 documents, setting an all-time high.
This achievement follows closely behind other substantial revenue collections, with Rs 158.2 crore gathered on September 25, involving 15,936 registered documents, and Rs 130.8 crore collected on September 22, with 12,955 documents being registered.
This surge in registration and revenue comes on the heels of the Karnataka government's announcement on September 19, indicating a potential increase of 20-30 percent in property guidance values, effective October 1. In densely populated IT corridors, this increment might reach as high as 50 percent, as per the minister's statement.
A key factor contributing to this impressive record-breaking performance is the introduction of the cutting-edge Kaveri2 software, designed to streamline the property registration process. Officials from the department emphasized the software's role in optimizing efficiency and expediting the registration process over the course of a single day.
The new software was rolled out in 256 sub-registration offices across the state, commencing on June 25. However, it is worth noting that earlier iterations of the software faced criticism for technical glitches, including integration issues with the Bengaluru Development Authority.
In response to the soaring demand for registration, Minister Gowda announced on September 22 that sub-registrar offices in Karnataka would extend their operating hours from 8 am to 8 pm until September 30, in a concerted effort to accommodate the heightened demand.
This remarkable achievement not only underscores the department's dedication to service but also highlights the impact of technological advancements in expediting administrative processes, ultimately contributing to the state's revenue growth. As property values continue to fluctuate, the Karnataka Stamps and Registration Department remains a vital cog in the state's fiscal machinery.
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