HYDERABAD: The state government is preparing to revise official land values, with the revised rates likely to come into effect in the first week of next month.
Demand-based revision planned across regions
Following directions from a Cabinet sub-committee on resource mobilisation, the Stamps and Registration Department has begun preparations. The government has decided to revise land values based on demand in different regions and has instructed field-level officials to assess local conditions before finalising new rates.
Increase may range between 50 and 100 per cent
According to sources, land values may be increased by 50-60 per cent of prevailing open market rates. However, officials have been directed not to exceed a 100 per cent increase. Plot values may be raised by 30-50 per cent, with a cap of 50 per cent.
The minimum value per square foot is likely to be increased to ₹1,600. In Greater Hyderabad, the minimum value may be raised to ₹3,000 and the maximum up to ₹12,000.
ORR zones may see steep hikes
Land values are expected to rise significantly in 39 sub-registrar offices located within the Outer Ring Road (ORR) limits. The government estimates that the revision could increase annual revenue by up to ₹3,000 crore.
A final decision is expected soon.