Indore: District stamp and registrar department has witnessed a surge of around 10 per cent in number of property registrations due to increasing demands in affordable housing segment. Still, local office is expected to fall short of around Rs 200 crore from its annual target of Rs 1340 crore.This financial year, local stamp and registrar department has witnessed number of property registrations crossing the 95,000 mark and with still five days remaining, the figure is expected to cross one lakh for the first time. “The department had a target of Rs 1340 crore for 2018-19. We have collected around Rs 1090 crore revenue through property registrations,” senior district registrar BK More told TOI.He added that the office has seen a rush for property registrations during last week of the financial year and the department is anticipating ‘good’ collection by March 31 with total revenue collection crossing Rs 1100 crore.According to Confederation of Real Estate Developers of India (CREDAI) Indore chapter president Naveen Mehta, affordable housing segment is continuing to flourish and one of the major reasons is stated to be eligible buyers getting subsidy up to Rs 2.60 lakh under Credit-Linked Subsidy Scheme (CLSS). Besides, a considerable deduction in GST on affordable and under-construction residential property, which will be applied from April 1, is believed to further increase the demand in this segment.“The growing demands in the segment has drawn attention of realtors, who have shifted focus on small-sized houses and plots ranging between Rs 6 lakh and 40 lakh,” Mehta told TOI.He added that government’s target of housing for all by 2022 by providing eligible people subsidy on buying or constructing residential units is expected to keep the market sentiment by in affordable housing segment for next three-four years.

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