People in Telangana may soon pay more to buy land and property. The state government plans to increase land registration values from June 1. Officials say the hike will apply to agricultural lands, plots, apartments, and commercial properties in many areas.
The Telangana land prices hike is expected to be higher in fast-growing regions around Hyderabad. Areas such as Kokapet, Gachibowli, Gandipet, Mokila, and Financial District may see sharp increases because market prices there have already surged. Some regions could witness hikes between 20% and 100%.
Officials want to reduce the gap between government registration values and actual market prices. The Telangana land prices hike will also help the state increase revenue through stamp duty and registration charges.
Buyers and real estate investors are now rushing to complete registrations before the new rates come into effect. Experts say property registration costs may rise significantly after June 1.
