When the land rates in Andhra are all set to rise, Revanth the CM of AP is planning to rise the market value of lands in Telangana. There is a talk that the real estate is not doing well in Telangana.
If the value of lands is increased the demand might come down further the analysts say. When people are looking at Andhra and Amaravathi it is not the right time for the Telangana to go for the increase in land value.
The Telangana government aims to revise the market value of lands by 20 to 40 per cent, depending on location and types of land. The government would set different market values for agriculture and non-agriculture lands.
Chief Minister A. Revanth Reddy will hold a review meeting with revenue department officials next week to discuss proposals.
By raising the market value, the state government expects to earn Rs 20,000 crore through property registrations this fiscal. In 2023-24, the state government earned Rs 14,295 crore by way of value-enhancement.
Will this move help the government to garner funds, or will if further spoil the real estate market has to be seen. But one-way Revanth is happy that his Guru is the CM of AP and the interstate disputes can be resolved easily now.
Revanth will be attending the swearing-in ceremony of Babu on 12th it is reported.
