Telangana hikes land, apartment prices: Check out new rates here

Hyderabad: Telangana government on Monday increased the prices of agricultural land, plots, and apartments. The revised rates will come into force from February 1, Tuesday.

According to revised rates, the rates of lands priced between Rs 75,000 an acre and Rs 5 crore an acre will be enhanced by 50 percent. It will be 20 percent for lands beyond Rs 5 crore an acre and 10 percent in case of those beyond Rs 10 crore an acre.

The market value of agricultural land per acre has been increased by up to 50 percent, for plots up to 35 percent per square yard and for apartments up to 35 percent per square feet based on their location and demand in districts, mandals, and villages.

The market value of open plots will also be subject to change and the revision will be of the order of 10 percent to 35 percent.

The stamp duty has, however, been retained at 7.5 percent of the market value of the property purchased.

The government is expecting to earn additional revenue of Rs 300 crore to Rs 400 crore a month from the Registration and Stamps Department with the revision of market values of different kinds of properties. At the present value, the government is earning Rs 550 crore per month. After revision, it would go up to Rs 1,100 per month.

This is the second revision in six months. Stamps and Registration Department has obtained the green signal from the government to revise registration values about 20 days ago.