Thegovernment is considering hiking property registration charges by 20% to 50% for both agricultural and non-agricultural properties. If the cabinet approves the proposal, the revised charges will come into effect from February 1.
The proposal comes just six months after the State Government increased property values for registration of all properties. The registration and stamps (R&S) department, which is expected to get Rs 10,000 crore revenue in the current financial year, will get another Rs 3,000 crore to Rs 4,000 crore after the hiked charges come into effect.
Official sources said the government is focussing on the agricultural properties as land rates have gone up in the state since the formation of Telangana, especially after completion of various Irrigation projects.
After an earlier revision, the minimum value for agricultural land was fixed at Rs 75,000 per acre and the minimum value was fixed at Rs 1,000 per sq ft for flats. For open plots, the minimum rate was decided as Rs 200 per sq. yard. All the rates came into effect from July 22, 2021.