STOCK MARKET BSE NSE

Andhra Pradesh government enhances land value in urban areas, eyes additional revenue

Only where there was a huge difference between the prevailing higher market value and its substantially lower registration value, the land rate increased by 10 to 30 per cent.

Published: 11th August 2020 09:31 AM  |   Last Updated: 11th August 2020 09:31 AM   |  A+A-

Workers, Labour, construction, GDP

For representational purposes. (File photo)

By Express News Service

VIJAYAWADA: The state government has revised the land rates in the urban areas across the State and the district level committees have taken due care to update the land value to reflect the reality, rationalise and equalise land of similar nature and land use in a vicinity.

Only where there was a huge difference between the prevailing higher market value and its substantially lower registration value, the land rate increased by 10% to 30% to achieve market value correction and protect the avenues for revenue generation in a balanced manner.

Taking a balance view for resource generation in the prevalent economic situation, the revision of land rate in urban areas this year has focused more on rationalisation and simplification of numerous slabs, rectification of anomalies such as non-implementation of converted land continuing in agriculture rate, plotted layout having rate per acre, different rates on either sides of national highway, state highway for lands of comparable or similar land use and better indexing of urban properties as per the prevalent land use like residential, house site or commercial.

This revision exercise was elaborately done by the district level committees headed by the Joint Collector (Rythu Bharosa and Revenue) as its chairman with members across the relevant departments like urban local bodies, urban development authorities, revenue, agriculture and local real estate and builder association and institution of valuer.

This committee has extensively worked for more than 45 days collating and collecting all the relevant information, conducting numerous field inspections despite the Covid-19 situation, engaging in detailed stakeholder consultations to optimally finalise the land rates in urban areas.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp