Telangana Chief Minister A Revanth Reddy. (Photo: X)
Hyderabad: The state government may miss the July 1 deadline on seeking objections on the proposed revision of market value of land from people and other stakeholders, even as the uncertainty continues over whether the revised rates would come into force from August 1 as scheduled or not.
As per the stipulated schedule, the department of stamps and registrations has to submit proposals on revised market values to the state government on Saturday and the details should be uploaded on website to facilitate people to file objections, if any, from July 1.
But, it is learnt that the top officials of the department are yet to receive proposals from all the district registrars.
After receiving the proposals from districts, the secretary of stamps and registrations department has to examine them and submit a report to state government for approval. After getting Chief Minister's approval, revised values have to be kept in public domain by uploading on website.
Official sources said all this would take some more time and there is no scope to meet July 1 deadline adding that the process would be delayed by more than a week.
Revision committees have reportedly recommended hiking the market value in the range of 20 per cent to 40 per cent. They recommended higher hikes in Hyderabad and surrounding districts like Rangareddy, Medchal-Malkajgiri, Nalgonda, Medak. They also proposed a larger increase, up to 50 per cent, for land located near national and state highways.
Official sources said that Chief Minister A. Revanth Reddy, who had proposed revising the market value of land, was having a rethink on implementing the revised values from August 1 following reports that property transactions were not encouraging. If land values were further hiked now, it could further hit the transactions. It was learnt that Revanth Reddy wanted to wait till October.
Earlier, on May 16, Revanth Reddy had instructed revenue officials to take steps to revise the market value of land because there was huge disparity with the actual sale price. The previous BRS government had
increased the land values in 2021, eight years after the previous revision in 2013.
Despite the revision, Revanth Reddy had said, there was still a huge difference between the market value of land and the selling price in many places. As per rules, the market value of land has to be revised every year.
Earlier, on May 16, Revanth Reddy had instructed revenue officials to take steps to revise the market value of land because there was huge disparity with the actual sale price. The previous BRS government had
increased the land values in 2021, eight years after the previous revision in 2013.
Despite the revision, Revanth Reddy had said, there was still a huge difference between the market value of land and the selling price in many places. As per rules, the market value of land has to be revised every year.
Accordingly, the stamps and registrations department initiated the process of revision of market values from June 18 by asking the sub-registrars to submit proposals to district registrars.
District registrars were asked to vet them and submit their proposals to the secretary of stamps and registration by June 24. The secretary would examine them and submit a report to the state government by June
29.
On approval the proposals will be uploaded on the website and will be kept in public domain for comments.
Revanth Reddy and revenue minister Ponguleti Srinivas Reddy will take a final call on the quantum of hike, which should come into force from August 1 as per fixed schedule.
However, Jyoti Buddha Prakash assumed office as secretary of stamps and registration only on Thursday.
District registrars were asked to vet them and submit their proposals to the secretary of stamps and registration by June 24. The secretary would examine them and submit a report to the state government by June
29.
On approval the proposals will be uploaded on the website and will be kept in public domain for comments.
Revanth Reddy and revenue minister Ponguleti Srinivas Reddy will take a final call on the quantum of hike, which should come into force from August 1 as per fixed schedule.
However, Jyoti Buddha Prakash assumed office as secretary of stamps and registration only on Thursday.
( Source : Deccan Chronicle )
Next Story
