Telangana land registration may surge around 200% over current rates
02 Jul 2021
2 Min Read
CW Team
The registration and stamps (R&S) department is considering increasing land rates between 20% and 200% over current registration rates, just one day after a cabinet sub-committee on resource mobilisation recommended increasing property registration values in the state.
According to a senior official, now that Chief Minister K Chandrasekhar Rao has approved the proposal, the hike could begin in the second week of July rather than August 1.
The hike could be 100% in many non-commercial areas and residential colonies, 200% on commercial roads, and 20-50% in rural and municipal towns.
In areas where more documents are getting registered, the hike in Greater Hyderabad and HMDA limits could be between 100% and 200%.
Officials explained that the maximum land registration values were Rs 30,000 per sq yd for commercial land and Rs 20,000 per sq yd in residential colonies in upmarket areas like -- Madhapur, Guttala Begumpet, and Khanamet that comes under Serilingampally sub-registrar office.
An R&S official told the media that the market rate in these areas is Rs 1 lakh per sq yard in residential colonies and more than Rs 2 lakh in commercial areas. The amount is expected to be doubled soon.
The land value in the fastest-growing Nizampet is Rs 10,000, thanks to its proximity to Hi-Tec City, whereas it was only Rs 2,000 in Dundigal, despite the market value being nearly Rs 20,000.
More documents are getting registered at the Uppal and Qutubullapur sub-registrar offices in the city's eastern reaches.
The land registration rate in Nagole is between Rs 9,000 and Rs 10,000.
HMDA sold plots in the Uppal Bhagat layout near Nagole for Rs 30,000 to Rs 40,000 per sq yd.
The R&S department is proposing a 7% increase in registration fees and stamp duty, up from the current 6%.
The government has formed committees to approve the revised land registration rates at the village, Mandal, and district levels.
Also read: Housing sales rise 93% Y-o-Y in Q2 2021, but dip 58% Q-o-Q amid 2nd wave
Also read: Bengaluru Development Authority doubles property tax
The registration and stamps (R&S) department is considering increasing land rates between 20% and 200% over current registration rates, just one day after a cabinet sub-committee on resource mobilisation recommended increasing property registration values in the state.
According to a senior official, now that Chief Minister K Chandrasekhar Rao has approved the proposal, the hike could begin in the second week of July rather than August 1.
The hike could be 100% in many non-commercial areas and residential colonies, 200% on commercial roads, and 20-50% in rural and municipal towns.
In areas where more documents are getting registered, the hike in Greater Hyderabad and HMDA limits could be between 100% and 200%.
Officials explained that the maximum land registration values were Rs 30,000 per sq yd for commercial land and Rs 20,000 per sq yd in residential colonies in upmarket areas like -- Madhapur, Guttala Begumpet, and Khanamet that comes under Serilingampally sub-registrar office.
An R&S official told the media that the market rate in these areas is Rs 1 lakh per sq yard in residential colonies and more than Rs 2 lakh in commercial areas. The amount is expected to be doubled soon.
The land value in the fastest-growing Nizampet is Rs 10,000, thanks to its proximity to Hi-Tec City, whereas it was only Rs 2,000 in Dundigal, despite the market value being nearly Rs 20,000.
More documents are getting registered at the Uppal and Qutubullapur sub-registrar offices in the city's eastern reaches.
The land registration rate in Nagole is between Rs 9,000 and Rs 10,000.
HMDA sold plots in the Uppal Bhagat layout near Nagole for Rs 30,000 to Rs 40,000 per sq yd.
The R&S department is proposing a 7% increase in registration fees and stamp duty, up from the current 6%.
The government has formed committees to approve the revised land registration rates at the village, Mandal, and district levels.
Image Source
Also read: Housing sales rise 93% Y-o-Y in Q2 2021, but dip 58% Q-o-Q amid 2nd wave
Also read: Bengaluru Development Authority doubles property tax
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
