VIJAYAWADA: Speculations are on the rise across the State that the value of land in Andhra Pradesh is going to surge substantially from Thursday as the government makes final efforts to revise the land market prices. The officials at the sub-registrar cadre are confirming that they have submitted their proposals regarding the hike in registration values in places where there is a steady increase in registrations, as directed by the State government.
However, when contacted by TNIE, Inspector General of Stamps and Registrations V Ramakrishna dismissed the reports, adding that they didn’t receive any instructions from the government until Wednesday evening and will disclose the details once they receive any such order officially.
Meanwhile, speaking to the media, Balakrishna, Deputy Inspector General of the Stamps and Registration Department, Greater Visakha, said that speculations aired as per the revised registration values by the government.
As per the guidelines of the government, increases in prices were likely to come into effect from June 1.
The guidelines said that the values would increase at the limits of sub-registrar offices situated at Madhurawada, Gopalapatnam, and Dwaraka Nagar. The book value of the land is likely to increase by 20–25% in the greater Visakha limits. “Last time land values were revised, it was three years ago, and today, there is a great difference between book value and market value,” Balakrishna added.
A sub-registrar in the Anantapur district stated that the land values in a few municipal wards are likely to increase by 30 to 50% on the highway and about a 40% hike in the areas where ventures have increased. “The market value increased at Papampet, Rachanapalli, Kurukunta, Somanadoddi, and Narayanapuram.”
In Krishna district, the registration officials submitted their proposals for revising land values in Poranki, Gosala, Edupugallu, Punadipadu, Kankipadu, and Proddatur villages within the limits of the Kankipadu sub-registrar office.
In the Nellore district, the land values might increase in almost all the manuals situated on either side of the highway. President of NAREDCO Nagesh said with the increase in land values, NALA charges will also be increased, as will open site charges by 14% depending on market value.
30-50% HIKE LIKELY
Sub-registrar in A’pur district stated that land values in a few municipal wards is likely to increase by 30 to 50% beside the highway and about 40% hike in the areas where ventures have increased