AP Lands value to go up!

July 30, 2014 09:38
AP Lands value to go up!

The lands value in Andhra Pradesh are likely to go up by a maximum of 30 percent and the proposal for this is pending with AP CM Chandrababu Naidu.  The government has all the rights to push the land value but so far did not take any decision. With the bifurcation of Andhra Pradesh, the real estate business in AP zoomed like anything within few months gap.  In places like Vijayawada, Vishakapatnam, Guntur, the real estate brokers are selling plots with prices of their own choice.

So the government has sought a report from all the 13 districts regarding the increase of land value. As per the report, the government now considering to increase the land value every year and with this, it is estimating to increase its revenue also. AP deputy CM KE Krishna Murthy has signed on the proposal for hike of land value and has sent to the Chief Minister's Office.

However, the hike of land value will be confined to only urban areas and government wants to keep the rural areas untouched. Though this decision is partly accepted, the middle class segment is not happy with the increase of land value in urban areas as their dream of own home in cities is likely to remain as a dream.

Meanwhile the registration department is getting ready with all the formalities if Chandrababu signs the proposal of hike.

(AW: Vamshi)

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