Registration values to shoot up to 150 % in TS

Hyderabad, March 9, 2015: With Chief Minister K.Chandrasekhara Rao giving green signal to the Stamps and Registrations department to implement the area-specific registration charges on property deals from August, registration charges are likely to shoot up by a maximum of 150 per cent in areas like Manikonda, Nanakramguda and Tellapur and other posh localities in and around Hyderabad. In other areas, the hike in registration charges may be lower depending on the area. The government wanted to implement the area-specific registration value system last August itself but kept the decision in abeyance fearing wrath of the people. It now wants to go ahead with the implementation to earn a higher revenue of Rs.500 Cr over last year's Rs. 2500 Cr through the property registrations.