Registration cost to go up as TS hikes fee, land rates

The government issued orders on Tuesday to increase the market value of land for the first time after the formation of the state. The rates will come into effect on July 22.

According to GO MS No. 58, the lowest value for agricultural land has been fixed at `75,000 per acre. In case of open plots, the lowest value of `100 per square yard has been revised to `200.

The values for both agricultural land and open plots have been enhanced by 50 per cent in the lower range, 40 per cent in the mid-range and 30 per cent in the higher range.

The lowest value for flats and apartments has been hiked from `800 per square feet to `1,000. The increase is by 20 per cent in lower ranges and 30 per cent in the higher ranges.

The stamp duty rate has been revised from six per cent to 7.5 per cent. It was pointed out the stamp duty rates was 11 per cent in Tamil Nadu, 10 per cent in Kerala and 7.5 in AP.

All registrations which will take place on or after July 22 will be as per new rates. In cases where payments have been made for registrations and slots have been booked for July 22 and thereafter, a module titled “Additional payments for slots already booked” is made available in the Dharani portal for making additional payments. The differential amounts can be paid and transactions carried out on the slotted day.

The Chief Secretary and Special CS for revenue issued orders about the revised land and stamp duty rates. The government stated that the ‘Guidelines Market Value’, also known as ‘Basic Value’, for registration was last revised in 2013.