Hyderabad: Three days after the government revised the value of property markets in Telangana, the builder of Hyderabad has appealed to the state to postpone price increases, at least until a comprehensive discussion was held with the industry.
Revised levels come into force on 1.
February 1.
They apply to registration of all types of non-agricultural, non-agricultural lands, open plots and built-up spaces (apartments and commercial complexes) – with an average percentage increase starting from 25.% to 50%.
“This is the second revision in the market value in the six-month range (previously carried out in July 2021).
This decision was taken without stakeholder views considered.
Because we feel increased this is not justified, we urge the government to delay the increase until the right methodology is followed for Arriving at a more reasonable market value, “said C Prabhakar Rao, President, Federation of Telangana builders, on Thursday.
The industrial body consists of seven associations with more than 900 members of the construction field.
“The real estate sector has a slowdown because Covid-19.
It has taken a further beating because of the problem of UDS that has created confusion and destroying industrial images.
In the midst of all this, the second revision in market values will affect us in adversely,” said Liberation issued by the Federation.
It added: “Also, after increasing stamp duty, market value, structural level, the rate of improvement and cost of nala (land conversion) in the past, seems inappropriate to revisit the market value now.”
Builders urge T’Gana to delay property rates in property rates
