Market value of lands set to rise by 20 to 40 pc in Telangana

HYDERABAD: The Telangana government aims to revise the market value of lands by 20 to 40 per cent, depending on location and types of land.

The government would set different market values for agriculture and non-agriculture lands. Chief Minister A. Revanth Reddy will hold a review meeting with revenue department officials next week to discuss proposals.

By raising the market value, the state government expects to earn Rs 20,000 crore through property registrations this fiscal. In 2023-24, the state government earned Rs 14,295 crore by way of value-enhancement.

The BRS government had revised the market value of lands after a gap of seven years in July 2021. It fixed the lowest value for agricultural land at Rs 75,000 per acre. The Congress government feels that this amount was too less as there is no area in the state where agriculture lands are available at this rate. It plans to more than double this amount. The BRS government enhanced the market value of lands by 50 per cent in the lower range, 40 per cent in the midrange and 30 per cent in the higher range.

In the case of open plots and land parcels, the lowest value before the revision was Rs 100 per sq yard. This was increased to Rs 200 per sq yard. The basic value for open plots was increased by 50 per cent in the lower range, 40 per cent in the mid-range and 30 per cent in the higher range. The present government aims to enhance all these rates by 20 to 40 per cent.

In July 2022, the BRS government hiked the stamp duty on property registrations from 6 to 7.5 per cent. The present government is also considering a marginal increase in stamp duty.

At a review meeting held at the Secretariat on May 16, the CM told officials to plan a fresh revision of the value of lands. He said the land rates in Hyderabad and other parts of the state have increased significantly but there was no corresponding increase in the income earned by the government through the stamps and registration department. Revanth Reddy felt that the vast difference between the actual market value and the government prescribed market value of lands was the reason for this.