Registration Values To Increase From Tomorrow

New Land Registration Market Values Effective from Saturday

The revised market values for land registrations across the state come into effect on Saturday. It has been increased by 10% to 20%, depending upon the prospects of developing that area. It is more steeply increased in some places. However, such inflated unscientific values of the previous government have been corrected by reducing at some places. The government has instructed the Registrations and Stamps Department to make the implementation of the revised market values smooth.

The valuation of structures will also go up, effective February 1. The details have been passed on by the Registrations Department to the sub-registrar offices. The rise in structure values is up to 6% based on a scientific study conducted by a special committee.

Queue at Sub-Registrar Offices

The registration values were up, and this led to sub-registrar offices witnessing a crowded day on Thursday as buyers and sellers tried to complete the deal. The scene was the same in Visakhapatnam, Kakinada, Vijayawada, Guntur, Ongole, Nellore, and other big cities.

Earlier, the respective offices used to register an average of 40 daily registrations, but on Thursday, it reached 60–80 registrations. It resulted in slowing down servers and delayed registrations as well as document payments. Buyers had to wait for challan payments, and the complexity level increased. However, when the server load came down in the evening, the registration pace picked up, and some offices operated even at night to complete pending transactions.

Revised Structure Valuation Rates

The revised structure valuation rates are for city councils, city panchayats, and rural panchayats:

  • Residential Buildings (per sq. ft.)
    • ​Ground + First + Second Floor: ₹1,490, ₹1,270, ₹900
    • Third Floor & Above: Add ₹30, ₹25, ₹20
  • Commercial Buildings (per sq. ft.)
    • ​Ground Floor: ₹1,800, ₹1,540, ₹1,060
    • First Floor: ₹1,700, ₹1,480, ₹1,010
    • Above First Floor: ₹1,590, ₹1,380, ₹950
    • Cinema Halls & Factories: ₹950, ₹880, ₹690
  • Other Structures (per sq. ft.)
    • ​Stone Sheds: ₹740, ₹580, ₹420
    • Flat Roofs: ₹420, ₹320, ₹240

Apart from these, values of several other structures have also been revised.