VIJAYAWADA: Credai AP Chapter sought the State government to reduce registration charges from the present 7.5 per cent to two per cent in order to give relief to the people and also initiate steps for the revival of real estate, which has been at the receiving end since the time corona crisis began. CREDAI office-bearers recalled that YS Rajasekhar Reddy had reduced registration charges when there was a global economic crisis in 2009 and recently Maharashtra and Karnataka had also reduced registration fee to help the Covid-hit sector.
The body’s state vice-president YV Ramana Rao, treasurer D Rambabu and others submitted a memorandum to deputy Chief Minister Dharmana Krishna Das in this regard.
They said that the state government had recently issued GO: 227 making some changes in the Non-Agricultural Land Assessment (NALA) Act towards conversion from agricultural land to non-agricultural land. They said that lands under Greater Visakhapatnam Municipal Corporation, Vijayawada Municipal Corporation and other urban areas are measured in square yards while in rural areas it is under acres. They further said it is justifiable to increase conversion fees from three to five per cent in rural areas but it would put extra burden in urban areas and sought continuation of two per cent fee in urban areas. They felt that reduction in registration fees will increase registrations and thereby government revenue.
The CREDAI team appealed for immediate action as millions of families depended on the real estate sector.
Krishna Das assured to take their issues to the notice of the Chief Minister.
