Property Market Value Goes Up By 15 To 60% In Telangana
Hyderabad, Feb 01: The state government has decided to increase land and property valuation from February 1 and issued amended guidelines for its implementation.
In accordance with the division of market value guidelines and rules 1998, the state government amended the valuation for agricultural and nonagricultural lands. The new value will be applicable from February 1.
However, those paying the registration fees will be exempted from the new charges and the registration process will be continued as per the old market value. There has been a big rush at the registration offices for the past two to three days in view of the increase in the registration charges. Due to some technical reason, the registration process has not been completed for many persons.
The valuation in Hyderabad city is likely to be from 84,500 to 1,14,100 per square yard. After the state government granted approval to the department of stamps and registration proposal for increasing the market valuation, Chief Secretary Somesh Kumar has issued the necessary guidelines.
After the formation of separate Telangana States in 2014, the state government had for the first time in July 2021 increased the lands and property valuation, and now again for the second time in 6 months, an increase is being made from February 1, 2022.
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