TG News: Telangana Increases Registration Market Values!
The Telangana government is preparing to increase the Registration Market Value for real estate transactions, especially in and around Hyderabad, which could lead to higher taxes for buyers of flats and apartments.
The Telangana government is preparing to increase the Registration Market Value for real estate transactions, especially in and around Hyderabad, which could lead to higher taxes for buyers of flats and apartments.
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New Hike May Impact Hyderabad and Surrounding Areas
According to reports, the hike will mostly affect properties located between Outer Ring Road (ORR) and Regional Ring Road (RRR). These areas have witnessed rapid urban development, leading the government to revise property values to match the growing market rates.
Apartments May See Up to 30% Increase, Open Plots May Double
Sources suggest that apartment prices could see a 30% increase in registration market value, while open plot prices might go up by 100% or even higher. This move is likely aimed at aligning government valuations with the ongoing real-time market rates.
Government Following Market Value Guidelines
Officials have clarified that the proposed hike will follow the Market Value Guidelines to ensure fairness and uniformity. The revision will be done after analyzing the current real estate trends, recent transactions, and market demand in various zones.
Higher Property Tax for Buyers
With the hike in registration market value, property buyers will have to pay higher stamp duty and registration charges. This will directly increase the cost of purchasing flats, apartments, and plots, especially for those planning to invest in the rapidly growing Hyderabad suburbs.
Telangana’s Growing Real Estate Market Behind the Move
The government’s decision comes in the backdrop of Telangana’s booming real estate market, particularly in Hyderabad’s ORR and RRR corridors. These regions have become hotspots for residential and commercial developments, attracting both domestic and international investors.
Buyers Advised to Make Quick Decisions
With the new rates expected to come into effect soon, real estate experts are advising potential buyers to finalize property purchases quickly to avoid the additional financial burden once the revised registration market values are implemented.
