The government revises market values generally during July/August every year and no such revision was taken up in the last fiscal mainly due to Coronavirus. (Representational image/DC
Vijayawada: Registration of lands and plots as per revised market values ranging from 5 per cent to 75 per cent and above is slowly picking up in Andhra Pradesh. The average daily collection is ranging from Rs 18-20 crore against Rs 13-16 crore.
The state government issued a memo on April 4 to take up the revision of the market value of lands and plots in the 13 newly formed district headquarters and adjoining suburban and rural areas under Rule 9 of AP Revision of Market Value Guidelines Rules, 1998 with effect from April 6.
Accordingly, the department of registrations is witnessing a gradual increase in revenue and the authorities are expecting it to go up by Rs 28-30 crore in the coming days. The state government has set a target of Rs 9,500 crore by revising the market values of properties upwards. It needs to be seen if the target can be realised or not by the end of the current fiscal.
Department sources said more properties get registered by the end of the financial year (March 31) every year for varied reasons including a fear of upward revision in market values as part of a regular annual practice by the state government. The government revises market values generally during July/August every year and no such revision was taken up in the last fiscal mainly due to Coronavirus.
However, as the present revision of market values is restricted to only 13 newly formed districts’ headquarters and their adjoining suburban and rural areas, the state government has the option to revise the market values upwards in the remaining areas to enhance its sources of revenue further. Though it is not clear when the state government may take up such an exercise, department sources say that it may do so in August as the case of regular practice.
A senior official from registration department said, "We are expecting our daily earning through registration of properties with revised market values reach Rs 30 crore once the registrations pick up and help us to reach our annual target of
Rs 9,500 crore by end of current fiscal."
On the other hand, the authorities are attending to technical issues arising in the software application to take up registration of properties on a regular basis and sound confident of rectifying the lapses soon to ensure hassle free registration to the property owners in the state.