New registration charges are going to come into effect in the state from January 1 next year in AP. The government has decided to bring new values into effect simultaneously in towns and villages. The values are likely to increase by 10 percent to 15 percent over the current ones based on the development of the respective areas and other factors.
As was the case during the YSRCP regime, efforts are being made to ensure that the values are increased in a scientific manner without any inequalities. Along with the registration values, the structural values are also being revised.
The district committees will approve the proposals for revision of values prepared in accordance with specific guidelines under the supervision of the district joint collector. Later, they will be put up on the notice boards of the sub-registrar offices on the 20th of this month.
Suggestions/objections and suggestions on these will be received till the 24th of this month. The scrutiny of these will be done till the 27th of this month. State Registration and Stamps Department IG Seshagiri Babu issued orders on Monday, directing district registrars to take steps to implement the new registration values from January 1, 2025. He directed that necessary steps be taken in accordance with the government guidelines.
The YSRCP government did not follow specific procedures in increasing registration values, resulting in inequities at the field level. Registration values were increased drastically in 2022 under the YSRCP government. These prices have reached a point where there is not much difference between the market value and the open market prices.
Due to this, real estate transactions have decreased in the last two and a half years. The coalition government also seems to be eager to improve its revenues without bringing any changes in the already burdened charges imposed by the previous government.
Usually, the value of land in government accounts differs from the value in the open market. Under this system, those who buy land get residential land at a lower price and those who sell it are profitable. The government, realizing that it is losing revenue under this system, has been increasing the registration values.
Since 2014, after the bifurcation of the state, governments have been increasing the registration values regardless of the open market values. Due to this, even though the number of registrations has changed, the government has been generating a huge amount of revenue.
