Vijayawada: The Andhra Pradesh government is revising the land value for registration purposes from February 1.It sought public opinion on this by posting the proposed enhancement on the website of the Stamps and Registration department.A revision of land value is done every year after supposedly taking opinions from the people. The value goes up majorly in areas where infrastructure development works are on, or are likely to happen.The stamps and registration department was doing hectic efforts in recent days to finalise the new values based on the “feedback from the people.”Visakhapatnam district: In the municipal corporation of Pedawaltair habitation and MVP sector-1, the existing value per square yard is Rs 62,000 while the prevailing market value is pegged at Rs 1.25 lakh and the proposed value is Rs 75,000 with a 21 per cent enhancement. With regard to value per square feet, the existing value is Rs 4,500 against the prevailing market value of Rs 7,000 and the proposed value is Rs 5,300 with a hike of Rs 18 per cent.Anakapalli district: In the municipal area of Velpula Veedhi near ATGH School, the existing square yard rate is Rs 25,000 against the proposed rate of Rs 25,000 and square feet rate of Rs 3,000 with no change at all. NTR district: In Vijayawada’s Kakani Nagar Street, the proposed value per square yard is Rs 45,000 and the proposed value per square feet Rs 3,800. The prevailing rates have not been specified by the authorities to compare the percentage of the hike in the proposed values. Anantapur district: In Tadipatri municipality, at Yellanuru Road, the existing market value per square yard fixed in June 2023 was 20,000 and the proposed market value was pegged at Rs 22,000 while the existing value per square feet is Rs 2,700 and the proposed value is Rs 2,900 with a slight hike being effected in values. Meanwhile, realtors are expecting that the revision of land values for registration could be in the range of 10 to 20 per cent on average. They maintain that land values will go up in areas where they are relatively less at present and where developmental works are either proposed or are going on in a hectic manner.AP Credai president YV Ramana Rao said, “We are eagerly waiting to know the quantum of revision of land registration values with an expectation for revival of the reality sector. It has been down for some time in AP.”Revenue minister Anagani Satya Prasad announced recently that there will be no revision of the land registration values in the capital city region of Amaravati.
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