Telangana’s government revises land market value and stamp duty rates.

The Telangana government has stated a policy reform that will result in a reassessment of the market value of land parcels, apartments, and other property kinds. The applicable stamp duty rates on property purchases have also been reduced to 7.5 per cent by the state government. The new regulations and prices will take effect on July 22, 2021.

The state government has set the minimum agricultural land value at Rs 75,000 per acre. Established agricultural land rates have increased by 50% in the lower range, 40% in the middle range, and 30% in the upper level. 

Before the announcement, the lowest price for open plots and lad portions was Rs 100 per sq yard. The state government has reduced the price to Rs 200 per square yard. The basic value for open plots has been reduced by 50% in the lower range, 40% in the middle range, and 30% in the upper range.

The State administration has changed the tariffs after a seven-year hiatus. In undivided Andhra Pradesh, the Guideline Market Value or Basic Value for registration was last amended. When Telangana State was founded in 2014, the tariffs have not been raised. The rates were not raised to help and enhance the development of the newly constituted State’s various industries.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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