The Land prices in Telangana likely to be increased for the first time. Government is making property registrations more high-priced. It will increase nearly 30 to 50% hike in land value based on the locality. Therefore Urban area will be more costly. Already file is ready to approve by CM KCR.
The revenue department seeks raise in market value to meet budgetary targets of the stamps and registrations department. Telangana Government has target of Rs.4200 crores for revenue department this year and this is an increase of over Rs.1000 crores than last year.
This new prices will be applied from july 1st. Now this has shocked the public and real estate agents as there is going to be a huge burden on consumers who are willing to purchase flats or independent houses.