Hyderabad: The Telangana government finalizing proposals to hike registration values after a gap of two years upto 150% from raise of Rs.3000 crore for the kitty against last year target Rs 2,500 crore.
The CM KCR to fix area-specific registration values to be effective from August this year. The property buyers posh residential areas like Manikonda, Nanakramguda,Tellapur etc in Hyderabad will soon have to pay more now.
The last revision of property taxes was taken up in the undivided state during the regime of congress leader N.Kiran Kumar Reddy in April 2013 and the revision due in 2014 was put off by the state government.
Now the situation has improved with political stability and the realty sector has been picking up. “The time is ripe for a revision of registration values”, says a senior official of stamps and Registration department