Land price hike will further trouble realty sector: Ramchander

He claimed that land values have been increased by 50% to 100% in several areas and by more than 300% in some locations without any scientific basis.
BJP State President N Ramchander Rao.
BJP State President N Ramchander Rao.(File Photo | Sri Loganathan Velmurugan, EPS)
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HYDERABAD: Criticising the Congress government’s decision to hike market value of lands across the state, state BJP President N Ramchander Rao on Friday alleged that the move lacks scientific planning and it will push the home ownership dream beyond the reach of the poor and middle-class.

In a statement issued here, Ramchander Rao said that the BJP welcomes any measure that genuinely benefits farmers and landowners in rural areas. However, he alleged that the primary objective behind the steep revision of market values is not public welfare but increasing government revenues through higher registration charges. He warned that the decision would further trouble the already struggling real estate sector.

He claimed that land values have been increased by 50% to 100% in several areas and by more than 300% in some locations without any scientific basis. As a result, people purchasing land or constructing houses would be forced to bear an additional burden of lakhs of rupees in registration fees, he said.

The former MLC pointed out that the government has fixed the minimum land value at Rs 2.75 lakh per acre in rural areas, Rs 5 lakh in municipalities and Rs 10 lakh within the HMDA limits, placing a heavy financial burden on the middle class.

He also objected to the government’s decision to apply the revised rates even to those who had already booked registration slots and paid challans under the previous rates, calling it an example of administrative high-handedness.

Demanding an immediate review of the revised rates and a reduction in electricity and RTC charges, he warned that if the government fails to change its approach, the BJP will launch large-scale statewide agitations.

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