Decision on revision of land values, hike in registration charges likely on Wednesday

The State Cabinet has not taken a final decision on hiking registration rates and upward revision of land values during the meeting convened on Tuesday.

The meeting of the Cabinet will continue on Wednesday and officials are confident that a decision on the enhancement of registration values and revision of land values will be arrived at on Wednesday. The Cabinet, according to sources, discussed at length the proposals submitted by the Registration and Stamps wing of the Revenue department for enhancing the registration values which remained constant since the formation of the State.

The registration charges are proposed to be increased to 7.5 % in place of the existing 6 % of the value of the property. The Finance department too mooted the proposal as registration charges remained constant in Telangana when other States, including neighbouring Andhra Pradesh, revised them several times in the past few years.

Andhra Pradesh, for instance, revised land registration rates seven times in the past eight years and the registration charges had been fixed at 7.5 % during the latest revision. Registration values in Maharashtra too were hiked periodically taking it to 7.5 % at present. But the charges were however not revised in the State since its formation as the government was against imposing any kind of burden on the prospective buyers.

But the government had taken cognizance of the officials’ report that there was huge variation in the land prices fixed by the government and the actual market value. As a result, registration of properties was being recorded as per government value, but the actual value of the registered property was much higher thereby impacting the government’s revenues.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Sep 20, 2021 10:33:29 PM |

Next Story