Telangana Land Prices are likely to rise soon after the state cabinet approved a proposal to revise property market values. The decision came during a cabinet meeting chaired by Chief Minister A. Revanth Reddy at the state secretariat.
The government plans to correct the gap between official land values and real market rates. Officials said Telangana Land Prices in several areas differ widely from actual property prices. The registration department will update these values using a scientific method. The revised rates may come into effect by the end of this month.
District-level market value revision committees will study local property trends and recommend new rates. Many landowners had complained that government compensation for acquired land was lower than market prices. The revision aims to address this issue.
The cabinet also allowed applicants under the HILT policy to pay 10% of the amount first before the new rates take effect. They can pay the remaining 90% within 90 days.
