Property Prices Soar in Hyderabad After Land Value Revision
In Raidurgam, the residential land rate has been raised from Rs 26,700 to Rs 48,300 per square yard, while commercial property values have increased from Rs 44,900 to Rs 78,600.
Hyderabad: Revised land values notified by the Telangana government have come into force on Friday, with several localities recording sharp increases, in some cases nearly doubling the official market value (card value) for land, including agricultural plots and flats.
In Raidurgam, the residential land rate has been raised from Rs 26,700 to Rs 48,300 per square yard, while commercial property values have increased from Rs 44,900 to Rs 78,600. A similar revision was recorded in Khajaguda, where residential land values rose from Rs 32,000 to Rs 48,300 per square yard and commercial rates from Rs 44,900 to Rs 78,600.
Real estate industry representatives said the increase in land values should have been accompanied by a reduction in stamp duty. At present, stamp duty and registration charges stand at 7.5 per cent of the total property value declared in the sale deed.
"Time-to-time revision of values is a traditional periodic process followed by the governments. However, keeping the property buyers in mind, the authorities should have decreased the percentage of stamp duty as the land value has increased," said V. Rajashekar Reddy, former president of the Confederation of Real Estate Developers' Associations of India (Credai).
Gandipet mandal, covering parts of the IT corridor, recorded notable increases. Areas such as Narsingi, Kokapet and Manchirevula, which were earlier peripheral hamlets, have evolved into a luxury housing hub. While average selling prices in these areas exceeded Rs 1 lakh per square yard, the earlier government market values were below Rs 15,000 per square yard before revision.
Under the revised rates, residential land values have been fixed at Rs 27,000 per square yard in Kokapet and Narsingi, and Rs 22,600 per square yard in Manchirevula, reflecting the updated valuation framework.
Gandipet Mandal ( Some prime locations ) revised market values per square yard
Puppalaguda : Rs. 36,800 (residential ), Rs. 42,000 ( commercial )
Kokapet : Rs. 27,000 ( residential ), Rs. 47,600 (commercial )
Narsingi : Rs. 27,000 ( residential ), Rs. 47,600 (commercial )
Manchirevula : Rs.22,600 (residential ), Rs. 47,600 (commercial )
Bandlaguda Jagir : Rs.18,400 ( residential ), Rs. 41,700 (commercial )
Gandipet : Rs.22,600 (residential )
Residential Flat : Rs.2,700 per square feet – Puppalaguda, Gandipet, Bandlaguda Jagir, Manchirevula, Narsingi, Kokapet, Puppalaguda and all the areas in Gandipet Mandal.
