Telangana Stands Top In Revenue Growth among Southern States

It seems that the real estate business in the new born state awaked from the hibernation. Since, the formation of Telangana state, real estate industry faced severe growth problems in the state. Finally, CM KCR comes into the rescue of ailing industry and has taken several key steps which make the state to stand top among southern states. During the first quarter of the 2016-17, the revenue collections of new state stands at Rs.1,935.30 crore which accounts for 31 percent growth when compared to the revenue of the first quarter of previous year. In the first quarter of 2015-16, the state collected net revenue of RS. 1,475 crore. The revenue primarily comes from sales of lands and buildings. The revenue growth of other south states are recorded as follows Andhra Pradesh 12.27 Percent Karnataka 2.31 Percent Kerala 3.57 Percent Tamil Nadu -2.63 Percent The reason attributed for the sudden improvement in land transaction in Telanagana is due to the fact that good governance and ease of doing business in the real estate sector. KCR increased No.of. districts to 31 from 10 thus creating more revenue centres. This comes as big news for real sector and the lands rates have been significantly increased in smaller towns also.