TheTelanganagovernment is all set to revise land rates for property registrations soon. The cabinet sub-committee on resource mobilisation headed by finance minister T Harish Rao said it would recommend to chief ministerK Chandrasekhar Raoto enhanceland registrationvalues. If everything goes as per the plan, the new values would come into effect from August 1.
Thestate governmentcollects 6% registration fee and stamp duty for registering both Agriculture-notes-for-state-psc-exams”>Agriculture and non-agriculture land and other constructions such as flats from prospective buyers.
Thegovernmenthas been mulling enhancement of registration land rates for the past one year. Last year, it could not go ahead due to the pandemic and subsequent lockdown. The CM had constituted the committee on resource mobilisation mainly to get more revenue as the state had lost more than Rs 50,000 crore in the past year.
The AP government had revisedland registration ratesseven times in the past eight years and increased registration charges to 7.5 per cent. Naducollects 7.5% and Maharashtra 7%, officials said.