Noida: The demonetisation pass has hit the kingdom exchequer tough as registration of residences and different assets transactions have crashed. Gautam Budh Nagar has slightly met 40% of its November goal till date. No matter the authorities accepting old 500 and 1,000 rupee notes for property registrations until November 23, there was no massive rush at the district registry workplace on Wednesday. Officials said registrations are anticipated to fall within the coming days.

“We’ve announced that humans can get their assets registered in antique Rs 500 and Rs 1,000 notes. That is because all registration collections cross back into the government kitty. This exemption will be exercised until November 23,” district Justice of the Peace NP Singh advised TOI.
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However, in place of a group of Rs 120 crore in October, the registry office of Gautam Budh Nagar has accrued handiest Rs 27 crore and ninety-three lakh up to now. The goal for the district for November is Rs 159 crore. For October, the gathering target become Rs 164 crore, at the same time as the district’s annual target is Rs 2,two hundred crores.

In Extra Noida, collection from November 1 to 8 become Rs 7.07 crore. From November 9-15, post the forex ban, the gathering has dropped to Rs 2.seventy six crores.

The department of registrations said the collection glide has experienced a success publish-demonetisation and the branch will fall brief of the revenue target for the district. Officials stated they count on the revenue collection to in addition cross down within the weeks to come.

“We’re looking ahead to the figures to keep dwindling due to the fact the Cash reserve of Rs 500 and Rs 1,000 notes can even dry up. We only have commands to accumulate the antique notes until November 23. The revenue loss is kind of predicted among 70% and eighty%,” SK Singh, assistant commissioner (stamps) and AIG (registration), Gautam Budh Nagar, said.

The registry offices of Gautam Budh Nagar collect deed fees and stamp responsibility for property rentals, sales, wills, power of attorney, Hindu marriage certifications, toddler adoption certifications and so forth.