Land value increases upto 200% in Telangana

Day after a cabinet sub-committee on useful resource mobilization advocated enhancement of belongings registration values with inside the state, the registration and stamps (R&S) branch is thinking about growing land fees among 20% and 200% over the cutting-edge registration fees.

If leader minister K Chandrasekhar Rao approves the proposal, the hike can also additionally come into impact from July 2nd week rather than August 1, a senior official stated.

In many non-industrial and home regions, the hike is expected to be 100%, at the same time it is expected to be 200% on industrial roads and among 20% and 50% on municipal towns. The hike might be from 100% to 200% in regions like Hyderabad and HMDA limits where quantity of documentation (transactions) registered is more.

The officers mentioned that there is a huge difference between the market value and the actual cost of the land. The upmarket areas like Madhapur, Guttala Begumpet and Khanamet under Serilingampall the maximum land registration values were Rs. 30,000 per sq. yard for a Industrial land and Rs. 20,000 per sq. yard for residential plots.

The rate is now predicted to be double as stated by R&S branch. Rates from Rs. 50,000 to Rs. 60,000 per sq. yard is prevailing in area like Jubilee Hills while the property (plots) have been sold at Rs. 2 lakhs.

The land cost on the quickest developing Nizampet is Rs 10,000 because of its proximity to Hi-Tec City at the same time as the marketplace cost in regions together with Dundigal turned into Rs 2,000 at the same time as Rs 20,000 is nearly the same. The registration charge in Nagole varies from Rs 9,000 to Rs 10,000. HMDA has sold its plots from Rs. 30,000 and Rs. 40,000 per sq. yard in Uppal Bhagat format near Nagole. 

After the Metro rail launched, the price near the station is touching sky and demand for the property have increased manifolds. The government’s land value is just Rs 9,000 in Kalyan Nagar, near the Uppal Crossroad. Open plots, on the other hand, are sold for over Rs. 70,000 and Rs. 1 lakh per sq. yard that’s close to the primary road. 
The R&S branch proposes a growth in registration and stamp costs of 7% to 7,5% from the modern 6%. The Government has now formed the committees for the approval of the revised land registration costs, at the village Mandal, and district levels.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.