In the month of October 2021, not just more home sales took place when compared to October 2020, but also more rental deals were registered in this month than its counterpart last year.
By Varun Singh
It is Diwali and we will also talk about positive aspects of real estate industry.
So in the month of October 2021, the sales that took place had surpassed home sales figures of October 2020.
But now as per an analysis of registration data by SquareFeatIndia it has come to the fore, that not just sales but also more rental deals took place in the month of October when compared to October 2020.
While taking about home sales, let’s discuss how many home’s were registered in October 2020, the number stood at 7928.
Whereas, in October 2021, the number of home sales registered stood at 8576.
Ok a lot has been spoken about home sales and the comparison between October 2021 and 2020.
Let’s now talk about the story that we are taking about.
There are two types of rental agreements that are registered with the state government’s Department of Registration and Stamps.
They are physical registration and e-registration
Physical Rental deals in October 2021, stood at 3087, the same in October 2020 was 2715.
Which clearly shows that even physical rental deals in October 2021 were more than that of 2020.
Not only this, e-registration of rental agreements stood in October 2021 at a total of 21158.
Whereas e-registration of rental agreement stood at a mere 19835 in October 2020.
This shows that more e-rental agreements were registered in October 2021.
More people took homes on rent in October 2021 than that of October 2020.
Leave and license agreements are registered with state department and even this generates revenue for the government.
For example via physical registration in October 2020 revenue generated was Rs 5.08 crore.
Which in October 2021 was 5.81 crore, via e-registration the revenue in this month stood at Rs 3.52 crore.
In October 2020 the revenue via e-registration of Rental agreements stood at Rs 3.11 crore.
Finally not just more agreements were registered in last month, but also more revenue was generated for the state government.
Also Read: At Rs 94 lac/month Is this North India’s Biggest Rental Deal?
