Land values hiked by 20% in AP capital
The Registration department has made all the arrangements to increase registration charges from August 1. The district administration has increased land values up to 20% to get more revenue through registration department.
Guntur: The Registration department has made all the arrangements to increase registration charges from August 1. The district administration has increased land values up to 20% to get more revenue through registration department.
The administration hiked land values in Guntur city, Tenali and Narasaraopet from 10% to 20%. Land values revision committee has already given its nod to increase values of lands.
Land values have been increased in 29 villages where land was acquired through pooling system up to 20%. Land values come under the purview of Mandadam, Anantavaram, Thullur, Tadikonda, Mangalagiri and Pedakakani sub-registrar offices.
Values of lands which come under the purview of the State capital have been increased up to 20%. Land values in non-land pooling villages in the State capital have gone up by 10%. Joint Collector Krithika Shukla is expected to give her nod at any time to hike land values up to 20% in the land pooling villages.
The officials increased land values up to 20% in the district depending up on areas. Mangalagiri sub-registrar T Sudhakar said, “The district administration gave its nod to increase land value by 10 per cent in the non-land pooling areas coming under the purview of the State capital and 20 per cent in the villages where the government acquired lands through the land pooling system for the construction of state capital.
New registration rates are expected to come into force on August 1. Earlier, the government nominally increased registration charges in the lands come under the purview of state capital. " Taking into consideration the market rates, the officials hiked values up to 20 per cent in the district.
Due to demonetisation, real estate activity has come down and as a result the registration department’s revenue is gradually falling.
Increase in land values will lead to increase of registration charges. As a result, the registration department’s revenue will fall.
Meanwhile, realtors are saying that increase of registration charges will impose additional burden on the land buyers.
By: V L Syam Sundar