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Telangana govt aims to achieve Rs 12,500 cr from revised land value

Tuesday, 15 Jun 2021
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After deciding to auction unutilised government land, the government of Telangana is mulling to increase land values for property registrations.

The revised land market values will come into force from 1 August 2021 if Chief Minister of Telangana K Chandrasekhar Rao okays the proposal. The registration and stamps (R&S) department has kept the proposals ready.

The department is aiming to achieve Rs 12,500 crore in FY21 after revising the land values.

The government has plans to enhance market land values for non-agriculture properties between 30 percent and 50 percent. While the enhancement will be 30 percent in the rural areas, it will be 50 percent in Greater Hyderabad and other municipal corporation areas. For agricultural properties, the hike in the values will be about 20 percent on the existing rates.

Though the government has powers to revise market values every year under the Indian Stamp Act, land values have not been revised after formation of Telangana. The last revision was done in August 2013 when the state was united.

 
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