Hyderabad: The Telangana Government is considering the cost of registration of hiking property by 20% to 50% for the nature of agriculture and non-agriculture.
If the Cabinet agrees to the proposal, the revised fee will take effect from February 1.
The proposal comes only six months after the state government increases property value for registration of all properties.
The registration and stamps (R & S) departments, which are expected to get an income of RS 10,000 Crore in the current financial year, will get Rs 3,000 Crore to Rs 4,000 Crore after climbing fees come into force.
Chief of Minister K Chandrasekhar Rao reported instructing the R & S department to increase numbers as property registration has peaked in the last four months due to real estate boom, both in the Metropolitan Hyderabad and City-level II areas in the state.
“The government can revise the values in urban areas for non-agricultural nature twice a year and once in two years for agricultural nature.
But the government decides to increase costs for agricultural property as well.
Initial meetings are detained on proposals, especially at levels of rise.
This will be Finished in the next few days, “a senior R & S department official told toi on Friday.
Official sources said the government focused on the nature of agriculture because the tariff for land has risen in the state since the formation of Telangana, especially after completing various irrigation projects.
“For example, after the completion of the Kaleshwaram and the Konda Pochamma Sagar in Siddipet, the soil value jumped to around Rs 50 Lakh to Rs 70 Lakh for Acre, while the value according to the registration department around Rs 5 Lakh,” a sub-word registrar.
After the previous revision, the minimum value for agricultural land remained at Rs 75,000 per Acre and a fixed minimum value at RS 1,000 per sq ft for flats.
For open plots, the minimum rates are decided as Rs 200 per square meter.
All rates come into force starting July 22, 2021.
T’Gana: Regn property rates can rise 20% -50%
