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Media Information
Property value and land registration charges rise in A P

Published & Updated as on - 2010-04-10

The Andhra government has increased the market value of land and buildings across all municipalities, corporations and special grade municipalities by 10 to 20 per cent. Registration charges will correspondingly move up to to the higher property value. Registration charges stand at 9.5 per cent, including a stamp duty of 7 per cent of the market value, transfer duty of 2 per cent and registration fee of 0.5 per cent.

The market value of land in Hyderabad, Secunderabad and adjoining Ranga Reddy districts has been increased by 20 per cent, the highest in the state. Even so, the revised value falls well short of prevailing market rates. For example while land costs Rs. 14 crore an acre in Kokapet, Ranga Reddy district, the revised value is still only at Rs. 40 lakhs an acre. In other areas of the state the increase in value has been moderate while in Tirupati, the increase has been marginal.

The values are likely to be revised again in six months and in rural areas next year.

Builders in the state have urged the government to roll back the hike in land registration charges concerned about the impact of this move on consumer demand especially given the recent increase in home loan rates.

Source: Inrnews

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