AP decides not to revise market value of properties

VIJAYAWADA: Andhra Pradesh government has on Friday decided not to make any upward revision in market value of immovable properties till March 31, 2022. The announcement has come as a major relief for people facing severe hardships due to Covid-19 since more than a year now.

State government issued G. O. RT No. 404 here on Friday stating that following representations from several organisations about the severe impact Coronavirus pandemic has had on general public, the state government has decided not to revise market value of properties this year. The current market values will remain in force without any revision till March 31, 2022.

Further, the government postponed the date of implementing periodicity of revision till March 31, 2022; though as per provisions it should have been implemented from August 1, 2021.

State government also issued on Friday another G. O. MS No. 64 transferring subjects of Commercial Taxes, Registrations and Stamps from Revenue Department to Finance Department. The transfer will include heads of departments and autonomous organisations like Commissioner of Commercial Taxes; director and inspector general, Registration and Stamps, and AP VAT Appellate Tribunal, Visakhapatnam. The idea is to bring about more synergy in resource mobilisation by Finance Department.

Meanwhile, registration of properties will resume from July 12 onwards, as Stamps and Registration authorities are starting the process of data migration from servers located in Hyderabad to the Data Centre in Amaravati.

Property owners have been complaining about facing difficulties in registering their properties, as servers located in Hyderabad had frequently gone down in the last few days. Due to this, authorities have stopped all registration processes from Friday afternoon.

With Second Saturday and Sunday being holidays, registration process will resume in the state only from Monday.