STOCK MARKET BSE NSE

Amendment to land values hits real estate in Telangana

This apart, the increase in land value has made the dream of owning a house beyond many people’s reach.

Published: 26th August 2021 08:46 AM  |   Last Updated: 26th August 2021 08:46 AM   |  A+A-

real estate, apartments, buildings

For representational purposes

Express News Service

HYDERABAD:  After a boom in real estate business for the last six years, the sharp increase in land and apartment prices have made them unaffordable for many people, which is leading to a slump in registration of plots and flats. The buyers are waiting for the prices to cool off a bit. This apart, the increase in land value has made the dream of owning a house beyond many people’s reach.

For instance, in Gandipet, the market value is Rs 17,000 per square yard as per the revised prices set by the government. However, the land owners are demanding more than Rs 1 lakh per square yard. In Saroornagar, especially at Sagar Road, facing Champapet, owners are demanding Rs 1.5 lakh against the government’s revised market value of Rs 28,000 per square yard.

According to Telangana State Realtors Association, the realty market, which was already adversely affected by Covid, only worsened with the revised market values and registration charges. “This is an unwanted hike and buyers are not ready to afford,” said N Praveen, president of the association.



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