A Cabinet Sub-committee constituted on the issue of resource mobilization in Telangana State has recommended the state government to revise the land and property registration rates in the state.
The sub-committee which met under the chairmanship of state finance minister T. Harish Rao today at MCRHRD Center was attended by state Minister V. Prashant Reddy, Chief Secretary of the State Somesh Kumar, IG of stamps and registration department, and the heads of the departments of all government departments.
The committee has widely discussed on the possibility of revision the land rates including agriculture land rates. The officials brought the issue of the heavy increase in the land rates in the private market during the last seven years after the formation of the Telangana state thanks to the rapid development witnessed by the state in all sectors and the implementation of Various development programs.
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The sub committee discussed the increase in the land rates in the rural areas of the state due to the constriction of various irrigation projects after the formation of the state. The committee said that the state government had not revised the land rates in the state despite its rapid development.
The officials told the ministers that several people were registering their properties for existing government rates even after spending a huge amount of money to buy valuable properties.
The committee felt that there was a need to revise rates at regular intervals while referring to the revision of the land rates for eight times in neighboring AP states. It said that the AP government had increased the land and immovable property rates by 11 percent during the last 8 years.
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It also said that other states of the country like Tamil Nadu and Maharashtra had increased the land and immovable property rates by 7.5 Percent and 7 percent respectively. The committee had unanimously decided to submit a report to the Chief Minister of the state KCR urging him to approve the revision of the rates.
SOURCE-NSS
