Telangana govt to revise market value of lands

The main reason for this was the disparity between the market value and the actual sale price of land.
Telangana Chief Minister A Revanth Reddy
Telangana Chief Minister A Revanth ReddyExpress photo

HYDERABAD: In order to boost its revenues, the state government has decided to revise the market value of lands.

Chief Minister A Revanth Reddy on Thursday instructed officials concerned to take steps to revise the market value of lands. The chief minister, along with Ministers Ponguleti Srinivasa Reddy and Jupally Krishna Rao, held a meeting with officials of revenue-generating departments like Commercial Taxes, Stamp and Registrations, Excise and Mining.

During the meeting, it was noted that the rates of land have increased dramatically across the state, but the income from registrations and stamps has not risen accordingly. The main reason for this was the disparity between the market value and the actual sale price of land. 

The previous government had increased the land value and registration charges in 2021, but there is still a huge difference between the market value of land and the selling price in many places.

As per rules, the market value of land has to be revised every year. The chief minister directed the officials to take steps to revise the prices.

Revanth asked the officials to ensure the revision of market values should be scientifically determined and the regulations of the Registration and Stamps department should be strictly followed.

He suggested that the market prices of land should be revised in such a way that it promotes the real estate and construction sector along with boosting the revenue of the state. Revanth also advised the officials to study the extent of stamp duty compared to other states to determine whether it should be reduced or increased.

‘Co-ordinate for TG’s sake’

The chief minister directed officials of all departments to work in coordination to increase the revenue of the state. He asked them to curb corruption and irregularities and take strict measures to curb tax evasion.

The officials were asked to go ahead with a solid plan to increase the revenues in accordance with the annual target. He directed officials to implement reforms, if necessary and to act strictly without being pressured by departmental loopholes.

The chief minister expressed his displeasure over income received last year, stating that it was not as much as estimated. The officials were asked to conduct reviews every month to increase the state’s revenues.

“In order to reach the annual target, set a monthly target and work hard to generate revenue,” Revanth said.

He suggested measures to curb GST evasion, which is the main source of revenue for the state. The chief minister enquired about the reasons why revenue did not increase as per the target, despite the high sales of liquor during the election season. He directed officials to take strict action against illegal transportation of liquor and tax evasion.

‘Curb tax evasion’

The chief minister advised officials to carry out proper field inspections and said that auditing should be done to increase the GST collection. “Without sparing anyone, collect GST. Do not repeat the mistakes made in the past in the Commerce department,” the chief minister said.

He also asked officials to deal strictly with corruption and irregularities coming to light in the name of GST returns.

The officials were also asked to accommodate employees in sub-registrar offices and ensure that there is no shortage of staff. It was mentioned during the meeting that in many places, sub-registrar offices were functioning from rented buildings and people who come for registration are forced to stand under trees.

The chief minister advised the officials to identify the areas for public utility and plan construction of advanced model sub-registrar offices in some places.

The chief minister also directed the officials to ensure that there was no shortage of sand for the common man and small constructions. “In order to increase revenue from sand, illegal transportation should be stopped and leakages plugged,” he said.

Revision long time coming

While the market value of land has to be revised every year, the previous BRS government had last increased the land value & registration charges in 2021

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The New Indian Express