Telangana to Increase Property Registration Values by Up to 100%
Up to 100% hike likely on property registration value in Telangana; even higher hikes in many regions like Kokapet, Gandipet, Mokila, Gachibowli, Gopanpally and others
The Economic TimesImage: The Economic Times
The Telangana Registration and Stamp department plans to raise property registration values by 20% to 100% across the state. Areas like Kokapet and Gachibowli may see the highest increases, aiming to align government valuations with current market rates and boost state revenue from property registrations.
- 01Property registration values in Telangana may increase by 20% to 100%.
- 02Significant hikes expected in areas like Kokapet, Gandipet, and Gachibowli.
- 03Current government registration rates are significantly lower than market rates.
- 04The revision aims to reduce the gap between government valuations and market prices.
- 05Target government revenue from property registrations is set at ₹19,000 crore.
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The Telangana Registration and Stamp department is set to increase property registration values by 20% to 100%, depending on the area. In rapidly developing regions such as Kokapet, Gachibowli, and Gandipet, the hikes could reach up to 100%. For instance, land in Kokapet recently sold for ₹100 crore per acre, while government registration rates are significantly lower, at around ₹3,000 to ₹4,500 per square foot in various locations. This adjustment is aimed at closing the gap between government valuations and the actual market rates, which currently show a disparity where agricultural land is valued at ₹5 lakh per acre, while market rates can range from ₹20 lakh to ₹30 lakh. The last revision occurred nearly four years ago, and the government anticipates that these changes will help achieve a revenue target of ₹19,000 crore from property registrations, up from ₹15,200 crore in the previous fiscal year.
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The increase in property registration values will likely raise costs for homebuyers and investors, affecting affordability in the real estate market.
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