M. Malleswara Rao
HYDERABAD: The Andhra Pradesh government is toying with the idea of collecting two different registration charges on transaction of flats in apartment buildings in all the urban areas of the State — one on built-up area of the flat and the other on “undivided share of land” (USL).
The proposal to split the single property of flat into USL and built-up area for the purpose of registration has been made to shore up the revenue of the Stamps & Registration Department, for which a target of Rs. 5,500 crore this fiscal had been fixed. If the measure is implemented, a flat purchaser will obviously have to shell down higher amount for registration. As land in posh localities such as Banjara Hills in Hyderabad, Patamata in Vijayawada and Beach Road in Visakhapatnam command a higher market value, the purchasers here will have to pay heavily for registration of USL itself. Another proposal under consideration was not to accept registration of flats in “semi-finished stage” as is being resorted to by purchasers. Under this plan, the registration charges will be collected on market value of the flat if it is completed.
The view taken is that registration of semi-finished structures leave “discretion” to officials which is unscientific at a time when the system needed rationalisation.