Hyderabad: Revenue and housing minister Ponguleti Srinivas Reddy during an extensive review of the stamps and registrations department at his office in the Secretariat on Friday, instructed officials to revise land rates according to current market values, ensuring that the middle class is not unduly burdened.
Revenue chief secretary Naveen Mittal, stamps and registrations IG Jyothi Buddha Prakash, and other officials attended the meeting. Minister Reddy emphasized the need to update land rates in light of the significant increase in property prices in Hyderabad and across the state.
He advised that the revision of land rates should be conducted scientifically to avoid discrepancies between open market values and government rates. Areas with significant differences should be studied in depth to determine the appropriate percentage increase.
In regions where the government rate is higher than the market value, adjustments should be made accordingly. The minister stressed that the arbitrary increase in land rates seen under the previous administration should not be repeated.
Minister Reddy also called for an action plan to overhaul the stamps and registrations department, addressing legal loopholes. He highlighted the need for permanent, state-of-the-art sub-registrar offices across the state to eliminate the inconvenience of people waiting for hours for registrations.
Officials were directed to identify the land required for these new facilities and to consider implementing a time-slot system for registrations to improve efficiency. This move aims to bring transparency and accuracy to land transactions while ensuring fair market practices and reducing
