Telangana to Implement Revised Land Values From June 5
The Telangana state government will implement revised land values across the state starting June 5, following a cabinet decision to adjust prices to current market conditions. Telangana Minister for Revenue and Housing Ponguleti Srinivasa Reddy announced the decision in Hyderabad on Wednesday, June 3. The revision aims to align government rates with actual market values, particularly impacting areas under the Hyderabad Metropolitan Development Authority (HMDA), the Outer Ring Road (ORR), and the Regional Ring Road (RRR).
According to the minister, the decision to update the valuation structure was taken after conducting an extensive study based on a report submitted by financial expert Arvind Subramaniam. The government expects the scientifically adjusted rates to replace the previous unscientific valuation system.
Srinivasa Reddy stated that the new land values were determined after examining various development factors. These included the development potential of different areas, local growth rates, recent land auctions, market conditions, and demand. The study also factored in the proximity to new roads, growth corridors, the Outer Ring Road, the Regional Ring Road, industrial development, and general infrastructure expansion.
The revision of market values has been undertaken across all 144 Sub Registrar Offices (SROs) in the state. The minister explained that this step was necessary because many problems were arising during land transactions due to the massive gap between actual market prices and official government values.
Under the new policy, no price increases have been proposed for areas where market values are already high. Instead, the government has determined minimum basic rates for agricultural lands, plots, and flats in the HMDA, the CURE area, and other regions of the state based on their specific levels of development.
Srinivasa Reddy also criticized the previous Bharat Rashtra Samithi (BRS) administration's handling of land rates. He alleged that in 2021-22, the BRS government increased land prices twice within a six-month period and raised registration charges from 6 per cent to 7.5 per cent. He claimed these changes were made using unscientific methods and without any comprehensive field study, which resulted in government-assigned values that were either much lower or much higher than actual market values.
