Government Market Values for Lands and Properties to Be Increased in Telangana
This is significant news for those planning to purchase a house or land in Telangana. The state government has decided to increase the officially determined market values for the registration of agricultural lands, plots, apartments, and commercial buildings. The revised values are likely to come into effect from the first week of May. With this decision, the burden of stamp duty and registration charges on property buyers is expected to rise substantially.
The Cabinet Sub-Committee on resource mobilisation, headed by Deputy Chief Minister Mallu Bhatti Vikramarka, took this decision. The key decision was approved during a meeting held at the Secretariat last Friday. The sub-committee directed the Registration and Stamps Department to make the necessary guidelines and technical arrangements to revise market values and implement the new rates.
Officials stated that the primary objective behind this increase is to enhance the state government’s revenue and reduce the gap between government-assessed market values and actual prices prevailing in the open market. The government believes that this move will help curb black money transactions in the real estate sector and improve transparency. It is estimated that this revision could generate an additional revenue of approximately ₹2,000 crore for the Registration Department.
This is the first revision of market values since the Congress government came to power in December 2023. Previously, the Bharat Rashtra Samithi government revised the values in 2022. Although there were plans to increase the values a year ago, the proposal was deferred due to a slowdown in the real estate sector.
The Cabinet Sub-Committee on resource mobilisation, headed by Deputy Chief Minister Mallu Bhatti Vikramarka, took this decision. The key decision was approved during a meeting held at the Secretariat last Friday. The sub-committee directed the Registration and Stamps Department to make the necessary guidelines and technical arrangements to revise market values and implement the new rates.
Officials stated that the primary objective behind this increase is to enhance the state government’s revenue and reduce the gap between government-assessed market values and actual prices prevailing in the open market. The government believes that this move will help curb black money transactions in the real estate sector and improve transparency. It is estimated that this revision could generate an additional revenue of approximately ₹2,000 crore for the Registration Department.
This is the first revision of market values since the Congress government came to power in December 2023. Previously, the Bharat Rashtra Samithi government revised the values in 2022. Although there were plans to increase the values a year ago, the proposal was deferred due to a slowdown in the real estate sector.
