HYDERABAD:
In a key initiative to enhance resource mobilisation, the state government has announced that property registration values will be revised starting the first week of May. The registration department has been instructed to make the necessary preparations for this change.
This decision, made by the cabinet sub-committee on resource mobilisation, ends a year-long pause on the proposed increase. Initially planned for last year, the revision was delayed due to a downturn in the real estate sector and persistent requests from real estate associations for a postponement. However, with market conditions showing signs of stability, the government has decided to proceed without further delay.
Alongside the property registration valuation revision, the government also reviewed the Hyderabad Industrial Land Transformation (HILT) Policy, which will now be put into action. Initially announced six months ago, the implementation was stalled due to the lack of clear guidelines. The HILT policy enables industrial landowners to change land use by paying a designated fee to the government.
Deputy Chief Minister Bhatti Vikramarka, along with ministers N Uttam Kumar Reddy, Sridhar Babu, Jupally Krishna Rao, and others, chaired a review meeting on Friday. They emphasized that the policy will be implemented in a transparent manner, with discussions involving industrial associations to balance the interests of Hyderabad and the state. Representatives from various industrial estates also contributed their views.
Industry Concerns
Several industrial representatives expressed concerns regarding pollution and land use. Some proposed moving polluting industries beyond the Outer Ring Road (ORR), a suggestion that the Deputy CM welcomed, assuring that all feedback would be taken into account.
Under the undeveloped land (UDL) policy, Bhatti highlighted the necessity for collaborative development efforts involving the Centre, state, and industrial park representatives. Proposals included establishing industrial parks between the ORR and the Regional Ring Road, modeled after China’s successful approach. The Deputy CM welcomed such initiatives, underscoring that the government’s focus is on development rather than disruption.
Sridhar Babu emphasized that industries should prosper while minimizing pollution. He also noted that the government remains open to changes in the HILT policy, revealing that the new industrial policy mandates dormitory facilities for workers.
Looking Ahead
The government reiterated its commitment to incorporating feedback from industrial associations before finalizing the HILT guidelines. With property registration values poised to rise starting May 1 and the HILT policy moving toward realization, the state is making a concerted effort toward resource mobilisation and industrial transformation, experts say.
