Online edition of India's National Newspaper
Wednesday, Sep 24, 2008
ePaper | Mobile/PDA Version
Google



Andhra Pradesh
News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary |



Andhra Pradesh Printer Friendly Page   Send this Article to a Friend

Plan to collect two registration charges on flats in Andhra Pradesh

M. Malleswara Rao

HYDERABAD: The Andhra Pradesh government is toying with the idea of collecting two different registration charges on transaction of flats in apartment buildings in all the urban areas of the State — one on built-up area of the flat and the other on “undivided share of land” (USL).

The proposal to split the single property of flat into USL and built-up area for the purpose of registration has been made to shore up the revenue of the Stamps & Registration Department, for which a target of Rs. 5,500 crore this fiscal had been fixed. If the measure is implemented, a flat purchaser will obviously have to shell down higher amount for registration. As land in posh localities such as Banjara Hills in Hyderabad, Patamata in Vijayawada and Beach Road in Visakhapatnam command a higher market value, the purchasers here will have to pay heavily for registration of USL itself. Another proposal under consideration was not to accept registration of flats in “semi-finished stage” as is being resorted to by purchasers. Under this plan, the registration charges will be collected on market value of the flat if it is completed.

The view taken is that registration of semi-finished structures leave “discretion” to officials which is unscientific at a time when the system needed rationalisation.

Printer friendly page  
Send this article to Friends by E-Mail



Andhra Pradesh

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary | Updates: Breaking News |

MPTF 2008


News Update



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Home |

Copyright 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu