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Mad rush for land registrations
With the State government setting its eyes on increasing the land values for greater stamp value, the offices of the sub-registrars in Krishna and Guntur districts are abuzz with people.
- Govt may raise land values
- Sub-registrar offices crowded with people
- Online network failure adding to their woes
Vijayawada: With the State government setting its eyes on increasing the land values for greater stamp value, the offices of the sub-registrars in Krishna and Guntur districts are abuzz with people. There have been serpentine queues at the sub-registrar offices during the last two days with buyers and sellers thronging them for registration. The registration of land transactions are executed by paying stamp duty to the government and the stamp duty is calculated based on the total value of the land.
“The government is examining the need to increase land values and eyeing more revenue through stamp duty. We think the new price would come into force from August 1,” said the Krishna district (East) Registrar G Srinivasa Rao. However, he added that the government had not sent any communication to them yet. As a result, there is a frantic rush to complete registration process. But, frequent failure of the online network is only adding to the woes of people. The realtors who have paid advance amount to the owners and signed agreements are now lining up before the sub-registrar offices for registration. The sub-registrar offices in Krishna and Guntur districts, which had been witnessing around 500 to 700 registrations a day, are now reporting around 2,500 registrations daily.
In view of the strong talk that capital may be located around Vijayawada, land values have gone up several times in the last two months. Land prices at Tadepalli, Mangalagiri, Atmakuru, Kaza, Namburu, Thulluru and Amaravathi in Guntur district, Gannavaram, Hanuman Junction, Nuzvid, Agiripalli, Kanchikacharla, Penuganchiprolu and Nandigama in Krishna district have gone up manifold.
An acre which used to quote Rs 1 crore to Rs 2 crore until recently is now valued nearly Rs 12 crore. Even in places like Hanuman Junction, Nuzvid, Agiripalli and Kanchikacharla in Krishna district, Mandadam, Thulluru and Namburu areas in Guntur districts, the land prices which were just a few lakhs of rupees till the bifurcation have ballooned to a couple of crores in view of the capital talk.
