AP govt plans to revise land values
Even though the real estate sector has not been doing very well, the Andhra Pradesh government is planning to revise the market values of agricultural and urban lands from August 1.
The move is taken to increase the revenue to the department of Registration and Stamps by raising the registration fee and stamp duty, which will help to meet its target for the current financial year.
A meeting convened by the Commissioner and Inspector General of Registration and Stamps had issued instructions that all the Deputy Inspectors General should collect the field maps of urban areas to inspect them personally and identify the growth pockets for proposing correct market values.
The IG appointed six officers for six zones to ascertain that the revision of market values was done as per guidelines.
To read more real estate news:
Corruption to be blamed for high prices in Mumbai realty sector
Source: The Hindu
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