Market Value Increase for Agricultural and Non-Agricultural Lands in Telangana.Anticipated Increase in Land Market Values in Telangana: A Boost of 20-40%
The market value of agricultural and non-agricultural lands in Telangana is expected to rise by approximately 20 to 40 percent.
Reports Submitted to the Registration Department
With the arrival of the new Inspector General (IG), the review scheduled for Tuesday was postponed. The increase in market value for both agricultural and non-agricultural lands in the state is anticipated to be between 20 and 40 percent. Officials from the Stamps and Registrations Department, who have been conducting a field study since June 18th, submitted preliminary estimates on the revision of values to the department’s headquarters. These proposals, developed based on current registration and open market values post the 2021 amendment, initially went from sub-registrars to district registrars and, after their review, to the Deputy Inspector General (DIG) offices. The DIGs were supposed to submit the final proposals to the Commissioner and Inspector General on Tuesday, but it was delayed.
New Inspector General Appointment
The government recently appointed Jyoti Buddha Prakash as the Commissioner and Inspector General of the Stamps and Registrations Department (additional responsibilities). He is set to take over from Naveen Mittal. Due to the pending completion of this transition, the review meeting scheduled for Tuesday regarding the revision of land market values was postponed. Sources suggest that this process might be completed by Wednesday or Thursday.
Higher Increases in Developed Areas
Reliable information indicates that market values for lands in developed areas of the state might see higher increases. For example, in districts surrounding Hyderabad, land prices in the open market have skyrocketed over the past five to six years. In regions like Medchal-Malkajgiri, Ranga Reddy, Sangareddy, and Nalgonda, there is a significant disparity between the registration values and open market prices of residential plots. In these areas, the increase might be at least 40 percent, meaning if the current market value is Rs. 1 lakh per square yard, the new value could reach Rs. 1.4 lakh. In mandal and urban areas, residential plot values might increase by up to 20 percent. Officials indicate that the value of agricultural lands across the state is also likely to see substantial revisions. Currently, the minimum price per acre is Rs. 75,000, but it may be revised to Rs. 2.5 lakh per acre, except in remote tribal areas. In urban areas, national highways, state highways, and industrial zones, the increase will be based on local prices.
Possibility of Delay
There is speculation within the Registration Department that the government might postpone the decision on revising market values. With various local body elections upcoming in the state and changes in the real estate sector in neighboring Andhra Pradesh following the establishment of a new government, some officials believe the decision might be deferred to consider these factors.
