HYDERABAD: Telangana is set to implement new land values for property registrations statewide starting June 5, marking the first significant rate update in nearly a year.
This decision comes after extensive field surveys and data from sub-registrar offices (SROs), with officials stating that the revision aims to align government-notified rates with current market values.
Revision Overview:
The new rates will be categorized into four tiers—25%, 50%, 75%, and 100% increases on existing registration values for both agricultural and non-agricultural lands.
Most property rates will fall within the 25%, 50%, or 75% categories, with only a few areas in prime urban locales, such as lands near the Outer Ring Road (ORR) and upscale neighborhoods like Kokapet and Raidurg, experiencing a 100% increase. About 10% of the areas under SROs will not see any changes, maintaining their current rates based on market trends.
Field surveys revealed discrepancies between notified rates and market values in some core urban areas, with differences reaching as high as 500% to 600%. Although officials initially recommended greater increases, Chief Minister Revanth Reddy capped the maximum hike at 100% to prevent financial strain on the public, especially considering feedback from the real estate sector.
Government Justification:
Revenue Minister Ponguleti Srinivas Reddy explained that the revised rates were derived from a “scientific study” and consultations with economists, including insights from the Arvind Subramanian report.
“The previous BRS government had adjusted land rates twice in 2021 and 2022 and increased registration fees from 6% to 7.5%. This revision responds to the growing disparity between government rates and market rates, which has been problematic for residents,” the minister remarked.
Srinivas Reddy noted that the newly established slabs consider outcomes from government land auctions, current market conditions, and infrastructure development, such as growth corridors, the ORR, and the planned regional ring road, with decisions based on areas designated by HMDA and the core urban region.
