Vijayawada: The state government has ordered all district registration offices to revise the market value of land and other forms of property upward. Following the instructions, the district registration offices have begun the exercise of verifying the market rates in urban and rural areas.
In the wake of bifurcation, land rates have soared drastically in Andhra. The discussions on the new capital, industrial hubs and premier educational institutions have encouraged the increase in prices.
To keep themselves abreast of the prevailing values at which properties are getting registered, the stamps and registration offices have begun collecting data. Krishna district registrar G. Balakrishna said the registration has picked up after bifurcation in the district, but there was no abrupt rise.
“The revision of land rates is only at the proposal stage. Nothing has been finalised yet. We have been asked to verify land rates. In 2013 we revised the rates,” said Mr Balakrishna. “Registrations were slow before bifurcation. But after bifurcation, they have picked up. We have achieved around 70 per cent of our target in the past four months. Last year too it was 69 per cent of the target. We are hoping the registrations increase.”
Officials in the registration department are on a statewide mission to assess the actual value of the land and properties in consultation with their counterparts in the revenue department. A revenue official in Vijayawada said, “We received a request from the registration department to help them in assessing the actual values of land.” The department has suffered 30 per cent shortfall of target in its revenue accruals. The department is aiming to get more revenue with the hiking of charges.
