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Andhra Pradesh - Hyderabad Printer Friendly Page   Send this Article to a Friend

Land registration fee to come down

Special Correspondent

State decides to reduce charges from 9.5 to 5 per cent in urban areas


The date from which the reduction would be implemented, to be announced soon: Minister

Officials instructed to work out details of the loss to the exchequer due to the reduction


HYDERABAD: After wavering for months, the State government has finally decided to reduce registration charges from 9.5 per cent to 5 per cent in urban areas in compliance with the condition laid by the Central Government to be eligible to receive funds under Jawaharlal Nehru National Urban Renewal Mission (JNNURM).

Disclosing this at a media conference here on Wednesday, Minister for Endowments, Stamps & Registration Gade Venkat Reddy said the date from which the reduction of the fee would be implemented, would be announced soon.

Officials have been asked to work out details of the loss to the exchequer due to this reduction as compared to the additional funds expected from the Centre under JNNURM, the Minister added.

Other areas

Mr. Venkat Reddy said the government was contemplating to make the reduced rate applicable even for land/property transactions in special economic zones and of agricultural lands around the municipalities and corporations.

Enquiries with officials, however, revealed that the new registration rates will not be a big benefit to property purchasers as the gains will be offset by the increase in market values of properties which are being revised upwards once every six months.

Several projects

The Minister said the State had secured huge sums and implemented several projects under JNNURM. But, the Centre was not releasing a sum of nearly Rs. 1,000 crore due to the State as had not fulfil the condition to reduce the registration charges.

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