- G.O released raising land rates massively
- Will come into effect from 22nd, Thursday
- Revised first time after Telangana formation
- Last revised in 2013, in undivided AP
Hyderabad: Telangana Government released a G.O pertaining to land market values and stamp duty including flats and registration charges which will be effective from 22nd, July, 2021. C.S. Somesh Kumar released the statement which said that the government has increased the market value of land from 30 per cent to 50 per cent depending on the area in the state.
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According to G.O the registration rates and stamp duty on registration will increase from current 6% to 7.5%.
The government has decided to increase the price of agricultural land to Rs 75,000 per acre.
For agricultural lands, the current values have been increased by 50% near the lowest, 40% near the middle and 30% near the highest.
In case of open plots the minimum value till date is Rs.100- per square yard, which has now been increased to Rs.200 per square yard. The lowest value currently available for an apartment is Rs 800 per square foot. Now it has been changed to Rs.1000. For Apartments it is increased by 20 per cent for low value and 30 per cent for high value.
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However, the government has recently auctioned off land in other areas, including Kokapeta. The government sold the land at low rates and now decided to increase the land rates after the affair was over which is strongly criticized by opposition parties.
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