AP Govt Enhances Land Value in Urban Areas

AP Govt Enhances Land Value in Urban Areas
11/08/2020 , by , in News/Views

The cash-strapped Andhra Pradesh government enhanced the value of land in urban areas by 10 to 30 percent to net additional revenue of Rs 800 crore per annum but kept the registration rate unchanged at six percent.

Special Chief Secretary (Revenue, Stamps and Registrations) Rajat Bhargava said that the revision of land values has been effected to reflect the reality as there were a lot of anomalies in the current rates. We had to rationalise and equalise the value of land, based on nature and use in a vicinity. Only where there was a huge difference between the prevailing higher market value and its substantially lower registration value, we increased the land rate by 10 percent to 30 percent to achieve market value correction. This would also protect the avenues for revenue generation “in a balanced manner,” he said.

This would also protect the avenues for revenue generation in a balanced manner. The stamp duty and transfer duty structure on land and related transactions had not been increased from the existing six percent because of the prevailing economic environment, though many other states had enhanced the rates. The focus is more on rationalisation and simplification of numerous land rate slabs by rectifying various anomalies.

Non-implementation of revised rate on land converted from agriculture to other uses, plotted layout having rate per acre, different rates on either sides of national highway, state highway for lands of comparable or similar land use are some of the anomalies.

 

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