Here the land rates will increase from July 22, the government increased the price after 7 years

Here the land rates will increase from July 22, the government increased the price after 7 years

New Delhi, Business Desk. Land rates in Telangana are increasing from July 22. The Telangana government has announced to revise the market value and stamp duty rates of land, flats and other properties after seven years. The maximum minimum price for agricultural land has been fixed at Rs 75,000 per acre. Earlier in 2013 (in undivided Andhra Pradesh) the guideline market value was revised. This is also known as the basic price for registration. Rates were not reviewed since the formation of Telangana (in 2014).

Farm will be available in this rate

The existing price for agricultural land has been increased to 50 per cent in the low category, 40 per cent in the middle category and 30 per cent in the high category. In case of open plots, the minimum price till now was Rs 100 per square yard, which has now been revised to Rs 200 per square yard.

Rate of plot also changed

The basic price of open plots has been revised by 50 per cent in the lower category, 40 per cent in the middle category and 30 per cent in the upper category. The current minimum price for a flat/apartment is Rs 800 per sq ft, which has now been increased to Rs 1,000 per sq ft.

10% jump in flat rate

In case of flats/apartments, there has been an increase of 20 percent in the lower category and 30 percent in the upper category. The stamp duty rate for purchase and other transactions in the state has been increased to 7.5 per cent from the existing 6 per cent


India's appeal against Vodafone arbitration decision to be heard in Singapore High Court in September

India's appeal against Vodafone arbitration decision to be heard in Singapore High Court in September

New Delhi. The Indian government's appeal challenging the decision of the International Arbitration Tribunal in the Vodafone case has been transferred to the High Court of Singapore (Senior Court). Giving this information, the sources said that the hearing on the appeal of the Government of India will be held in September. The International Arbitration Tribunal rejected the Government of India's retrospective tax demand of Rs 22,100 crore on Vodafone Group, against which the Government of India has appealed.

The International Arbitration Tribunal had on September 25 last year rejected the tax department's demand of Rs 22,100 crore tax and fine on the UK-based telecom company. The department had sought this tax in the case of the acquisition of an Indian operator by a British company in 2007. The government had appealed against the decision in December last year on the grounds of jurisdiction. Two sources with knowledge of the matter said that the Indian government's appeal has now been transferred to the high court and will be heard in September. The appeal was filed in a Singapore court because the Southeast Asian country is a bench of tribunal. The government has similarly challenged the decision of the three-member tribunal of the Permanent Court of Arbitration in The Hague.

In this decision, the Indian government has been asked to refund $1.2 billion along with interest and cost to UK's Cairn Energy Plc. Using a 2012 law, the government had asked Vodafone and Cairn to pay tax on alleged capital gains made several years ago. This law allows the tax department to open old cases. Both Vodafone and Cairn had filed an arbitration case under the Bilateral Investment Protection Treaty. India lost both the arbitration cases.