The registration values and structure values should be revised every year on August 1 in urban areas and every two years in rural areas. But the Vaikapa government increased the values in the name of special revision and put the financial burden on the people. These are currently under review.
–Galla S Kiran Kumar, Bureau ChiefFormulation of reduction proposals where there is more
the registration values and structure values should be revised every year on August 1 in urban areas and every two years in rural areas. But the Vaikapa government increased the values in the name of special revision and put the financial burden on the people. These are currently under review.
Today, Amaravati: The state government has decided in principle to increase the registration values of purchase and sale of properties from December 1. An official announcement will come with the approval of CM Chandrababu. In some places registration values are higher than the open market due to inefficient governance of Vaikapa. Due to this, there is stagnation in the real estate sector. To correct these errors, the government will finalize the new values on the basis of local development and other aspects. The registration and stamps department has been working on the pattern of registration values since two and a half months by forming committees at the district joint collector level. Finance Minister Payyavula Keshav and Revenue Minister Anani Satyaprasad held a special meeting at the Secretariat on Friday to review the progress of the value revision exercise. Proposals are being prepared on how to increase and decrease values in which areas.
Not at will..
A minimum of 10% to a maximum of 20% is likely to increase registration values. If the existing registration values are far from reality, they will be reduced. We will finalize the proposed values of corridor growth, national highways and other aspects. Special committees are examining the survey numbers, their extent, development, registration of deeds and other details in the respective areas. Unlike in the previous government… the rate hike will be down to the field conditions. In 2023-24, an income of Rs.10,005 crore was generated through the registration of deeds. In this financial year till October 24, income of Rs. 5,235.31 crores has been received,’ said Satya Prasad. Re-survey has been completed in some villages in the state. In the rest of the villages, registration is being done on the basis of survey numbers. In the ministerial meeting held at the Secretariat, Finance Department officials along with Special Chief Secretary Revenue Department Sisodia, Registration and Stamps Department IG Seshagiri Babu participated. Another formal meeting will be held in two weeks. In that meeting, there will be complete clarity on the increase in values.
No more shortage of stamp papers: Minister Satya Prasad
We are making stamp papers available in Sub-Registrar Offices as before. Registrations will continue through e-stamping as well as stamp papers. We are sending fifteen lakh stamp papers of Rs.50 and Rs.100 each to the Sub-Registrar offices. We are working to bring reforms in the management of sub-registrar offices for the convenience of buyers and sellers. Especially.. we want to introduce the system of registration through slot booking along with paperless regime. Many more changes are being discussed. We have already put an end to the British tendencies in the sub-registrar’s offices and removed the red tapes.
