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