The Telangana government on Tuesday announced a revision in the market value of lands, flats and others and stamp duty rates which will come into force from July 22.
The ‘Guideline Market Value’, also known as Basic Value for registration, was last revised in 2013 (in undivided Andhra Pradesh) and not done since the formation of Telangana (in 2014) in order to stabilise and augment growth in varioussectors, an official release said.
The lowest value for agricultural lands has been fixed at Rs 75,000 per acre.
For agricultural land, the existing value has been enhanced by 50 per cent in the lower range, 40 per cent in the mid range and 30 per cent in the higher range,
In case of open plots, the lowest value hitherto was Rs 100 per square yard, which has now been revised to Rs 200 per sq.yard. The basic value for open plots has been revised by 50 per cent in the lower range, 40 per cent in the mid range and 30 per cent in the higher range.
The existing lowest value for flats/apartment is Rs 800 per sq ft, which has now been hiked to Rs 1,000 per sq.ft. In case of flats/apartments, the increase is 20 per cent in lower ranges and 30 per cent in the higher range, it said.
Observing that the stamp duty rates in Telagnana are amongst the lowest in the country, it said these have been revised to 7.5 per cent from six per cent for sale and other transactions.