Telangana to revise property registration charges from Aug 1

Hyderabad, June 16 (IANS) New registration charges for agriculture and non-agriculture land and properties will come into force from August 1.

This followed the recent decision of the Telangana government to revise the market value of lands to boost its revenues. This will be the first hike in land value and registration charges after the Congress came to power in December 2023.

The Stamp and Registration Department has initiated an action plan to study the current value and revise it to fix new registration charges accordingly.

The department will begin the groundwork in this regard on June 18 after a meeting with additional Collectors and Revenue Divisional Officers (RDOs).

The Stamp and Registration Department has issued guidelines for revising the market values in rural and urban areas. After an analysis in a phased manner, new registration charges will be decided on July 1. Subsequently, the final market value will be fixed after a few rounds of scrutiny.

After a study by committees at the Mandal and district levels, new market value will come into effect from August 1.

The Stamp and Registration Department will also hold meetings with officials of Revenue, Municipal Administration, Panchayat Raj, and Survey departments.

After posting the revised values on the website on July 1, the department will call for suggestions and objections from people till July 20. The exercise to fix revised values will be completed by July 31 and revised rates will come into effect from August 1.

Chief Minister A. Revanth Reddy had last month directed the department to take steps to revise the market value of lands.

It was noted during the meeting that the rates of land have increased dramatically across the state, but the income from the Stamp and Registration department has not risen accordingly.

The officials had told the Chief Minister that the main reason for this was the disparity between the market value and the actual sale price of land.

The previous Bharat Rashtra Samithi government had increased the land value and registration charges in 2021, but the meeting was told that there is still a huge difference between the market value of land and the selling price in many places.

Though the market value of land has to be revised every year as per rules, this is not being followed.

The Chief Minister had directed the officials to take steps to revise the prices.

Revanth Reddy had asked the officials to ensure the revision of market values should be scientifically determined and the regulations of the Stamp and Registration Department should be strictly followed.

He suggested that the market prices of land should be revised in such a way that it promotes the real estate and construction sector along with boosting the revenue of the state.

However, the exercise could not be taken up due to the recent Lok Sabha elections.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.