Telangana to revise property registration charges from Aug 1
On august 1, new registration fees for properties and land used for both agricultural and non-agriculture will be implemented. This came after the telangana government recently decided to increase its revenue by changing the market value of properties. The property valuation and registration fees will be increased for the first time since congress took office in december 2023.
The Department of Stamps and Registration has started working on an action plan to assess the present value and make necessary revisions to determine new registration fees. On june 18, the department will start this project's foundational work following a meeting with more Collectors and Revenue Divisional Officers (RDOs).
Regulations for updating the market values in both rural and urban regions have been released by the Stamp and Registration Department. On July 1, new registration fees will be determined following a tiered analysis. The ultimate market value will then be determined following several inspection rounds.
The new market value will take effect on august 1st following research conducted by Mandal and district committees. Meetings with representatives from the departments of Revenue, Municipal Administration, panchayat Raj, and survey will also be held by the Stamp and Registration Department.
The Department of Stamps and Registration has started working on an action plan to assess the present value and make necessary revisions to determine new registration fees. On june 18, the department will start this project's foundational work following a meeting with more Collectors and Revenue Divisional Officers (RDOs).
Regulations for updating the market values in both rural and urban regions have been released by the Stamp and Registration Department. On July 1, new registration fees will be determined following a tiered analysis. The ultimate market value will then be determined following several inspection rounds.
The new market value will take effect on august 1st following research conducted by Mandal and district committees. Meetings with representatives from the departments of Revenue, Municipal Administration, panchayat Raj, and survey will also be held by the Stamp and Registration Department.
The agency will accept comments and complaints from the public until July 20th, after the July 1 publishing of the amended values on the website. updated rates will take effect on august 1st when the exercise to establish updated values is finished by July 31st.
Last month, chief minister A. revanth reddy gave the department instructions to update the market valuation of properties.
The Stamp and Registration Department's revenue has not increased in line with the state's sharp increase in land taxes, which was brought up at the meeting.
The chief minister was informed by the officials that the primary cause of this was the discrepancy between the land's market value and its actual sale price.
Last month, chief minister A. revanth reddy gave the department instructions to update the market valuation of properties.
The Stamp and Registration Department's revenue has not increased in line with the state's sharp increase in land taxes, which was brought up at the meeting.
The chief minister was informed by the officials that the primary cause of this was the discrepancy between the land's market value and its actual sale price.
There is still a significant gap in many areas between the market value of land and the selling price, even though the previous Bharat Rashtra Samithi administration raised the land value and registration fees in 2021.
Even though it is required by law to update the market value of land annually, this is not happening.
The authorities were instructed by the chief minister to adjust the rates.
Even though it is required by law to update the market value of land annually, this is not happening.
The authorities were instructed by the chief minister to adjust the rates.
Revanth reddy had instructed the authorities to make sure that the Stamp and Registration Department's rules are properly adhered to and that market values are revised in a way that is decided scientifically.
He recommended that land market prices be adjusted in a way that would support the building and real estate industries while also increasing state income.
Unfortunately, the recent lok sabha elections prevented the exercise from being undertaken.
He recommended that land market prices be adjusted in a way that would support the building and real estate industries while also increasing state income.
Unfortunately, the recent lok sabha elections prevented the exercise from being undertaken.