Deed fees make money for Treasury

ISTANBUL

Land registry fees have brought the government revenue seven times higher than the budget allocated for the land registry administration where over 6 million operations were recorded last year, according to 2012 data released yesterday by the General Directorate of Land Registry and Cadastre. 

While the budget allocated for land registry and cadastre cost 677.1 million Turkish Liras, 4.63 billion liras returned to the Treasury in a total of 6.19 million operations last year, according to the data of the administration, which is a body of the Environment and Urban Planning Ministry. Around 31 percent of the operations were sales.

Istanbul is listed as the top city in terms of both operation value and volume. With land registry fees worth 1.62 billion liras and a total of 793,000 operations, Ankara ranked second earning 491 million liras of fees. İzmir was third, earning 283 million liras, the data showed. k HDN