Telangana realtors urge govt to reconsider land value, stamp duty hike
Realtors in telangana are requesting the state government to reconsider its decision to modify land market valuations and stamp duty rates. A revanth reddy, the chief minister, has directed authorities to analyze and compare these tariffs to those in other states.
Regulations require that the market value of land be revised on an annual basis. However, real estate groups intend to meet with the government after the model code of conduct expires. C Shekar reddy, the national vice-chairman of the CII - IGBC, emphadata-sized the need to preserve affordability, saying, "This is not the time to raise land costs. "The emphasis should be on increasing turnover rather than increasing value."
Regulations require that the market value of land be revised on an annual basis. However, real estate groups intend to meet with the government after the model code of conduct expires. C Shekar reddy, the national vice-chairman of the CII - IGBC, emphadata-sized the need to preserve affordability, saying, "This is not the time to raise land costs. "The emphasis should be on increasing turnover rather than increasing value."
Shekar reddy proposed lowering land value rationalization from 7.5% to 4.5% to boost market turnover and income. He stated that prior rises in land prices and registration fees had a substantial impact on end users, making property purchasing less affordable.
With several taxes and fees currently burdening real estate transactions, realtors think that additional hikes might make basic housing unaffordable for low- and middle-income families. They argue for a balanced strategy that benefits both investors and the public. Realtors believe increases could make basic housing unaffordable for lower-income and middle-income groups.
With several taxes and fees currently burdening real estate transactions, realtors think that additional hikes might make basic housing unaffordable for low- and middle-income families. They argue for a balanced strategy that benefits both investors and the public. Realtors believe increases could make basic housing unaffordable for lower-income and middle-income groups.