M. Malleswara Rao
HYDERABAD: The State government is in a fix over a proposal of the Stamps & Registration Department to enhance property registration charges through upward revision of market values in urban as well as in rural areas.
Confident of getting a clearance to its proposal, the Department has almost completed a State-wide survey for upward revision of the market values. Within the next few days, the revised market values will be displayed for public in a tabulated form area-wise at the respective sub-registrar offices.
People purchasing properties will have to shell down higher amounts towards registration charges, once the revised market values come into force after the government's approval. The registration charges, at present, are collected at 9.5 per cent (of the market value of the property) uniformly in urban and rural areas.
Nonetheless, a piquant situation has arisen over the Department's proposals. The Union Government has laid down a condition that it would not release the funds, due to the State, towards various sanctioned projects under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) unless the latter reduced registration charges to 5 per cent in case of urban areas.
The fulfilment of this condition is being insisted upon by the Centre as part of reforms in Municipal Administration. The sum held back by the Centre for non-fulfilment of this condition has now touched Rs. 975 crore.
The government has not made up its mind whether to comply with Central condition or go by the department's proposals.