VIJAYAWADA: Though registrar’s offices in some parts of the State have been witnessing a rush of customers for some days now as the enhanced prices of land and the subsequent hike in registration fees are all set to come into force on Thursday, officials concerned say that there is no mad rush unlike on such occasions in the past. Except in some locations like the capital city, the increase in land prices is nominal and the slump in real estate sector is being cited as the main cause for low response.
While land prices in urban areas have been enhanced up to 5 per cent, in rural areas as well as on the outskirts of cities and towns, they have been raised to 10 per cent. When it comes to the Amaravati capital region, the government has enhanced the price of a square yard to Rs 5,000 from the existing Rs 2,000.
Officials say that as the previous government had already allotted land to AIS officers in the Capital area at the same price (Rs 5,000 per square yard), the enhancement of price was done accordingly.
Speaking to TNIE, a higher official of the Stamps and Registration department maintained that unlike on previous occasions when people made a beeline to the registrar’s offices before the enhanced prices came into force, there was no such response this time around. The enhanced prices will come in handy for the government to meet the revenue target of Rs 6,600 crore in the current fiscal, the official added. Realtors are raising a hue a cry over the government enhancing the land prices every year, increasing the burden on people. “We have appealed to the government not to go ahead with enhancement of land prices, said CREDAI AP chapter president Ch Sudhakar.