Telangana realtors want LRS scrapped

In the new system, wherein slot bookings were required, the registration of open plots was almost nil and only a handful for built-up properties took place.

HYDERABAD: As the old system of registration of non-agricultural properties — Computer-aided Administration of Registration Department (CARD) — resumes from Monday, it is to be seen if there will be an upswing in the number of registrations. In the new system, wherein slot bookings were required, the registration of open plots was almost nil and only a handful for built-up properties took place.

Realtors point out that though reverting to the CARD system, which obviates the need for slot booking, might push up registrations as compared to last week, the numbers will not be the same as what they were before the introduction of the Layout Regularisation Scheme (LRS). “Without scrapping the LRS, there will not be much change even if slot booking is done away with.

Tens of thousands of properties have not been registered over the past three months as registrations were halted and the new system was introduced,” Telangana State Realtors Association president Praveen Naragoni said. According to him, with the LRS now on hold, more than 20 lakh applications are pending. “We will continue our protest, demanding the Telangana government to scrap the LRS,” Naragoni said.

Realtors criticise TS govt for charging LRS based on current market rate

Telangana State Realtors Association president Praveen Naragoni said: “We have been saying that the government is using Dharani portal for registration. If it is not, then what does it mean by ‘reverting to the old system’? Neither the CM nor the MAUD Minister are speaking on this issue.”

K Shyam Rao, a realtor from Nagaram in Hyderabad’s suburbs, said, “The government said it will revert to the old system. Does this mean they will not insist on the LRS? If that is the case, the number of registrations will shoot up. We will get to know only after 10.30 am-11 am on Monday.”A well-known builder from Hyderabad, who did not want to be named, said, “On Sunday, some people tried to generate challan online, and failed. We will get some clarity only on Monday as to what the government means.” 

He added, “The government is charging people for LRS based on the current market rate. Many must have bought properties years ago at prices much lesser than the current market value. Over the last couple of years, land value has soared and in some cases, people may have to shell out more towards the LRS than the original cost of land.”