The prices of open plots in Hyderabad may be increase by 20% to 200% from the current market value. The Registration and Stamps department made this proposal. If chief Minister Chandrasekhar Rao K gives the nod, these changes might come into effect from August.
The change can be about 100% in residential and non-commercial areas. While in Rural and Municipal areas, it might be 200% on commercial and 50% on non-commercial. The change can be about 100% in residential and non-commercial areas. While in Rural and Municipal areas, it might be 200% on commercial and 50% on non-commercial. In areas within HMDA limits of Hyderabad, the rise could be about 200%. It might also apply to areas with high registrations. At present, there is a massive variation between registration value and market value. For instance, in emerging places like Madhapur, Jubilee Hills, Serilingampally and Patancheru variations are huge. The amount is now expected to be doubled. Since rates ranged from Rs 50,000 to Rs 60,000 per square yard were being sold at 2lakhs.The land value at quickest developing locations like Nizampet is Rs 10,000 because of its nearness to Hi-Tec City. In contrast, the market value in regions like Dundigal was Rs 2,000, while Rs 20,000 is practical. Uppal and Quthbullapur attract more investments in the eastern pieces of the city. The enrollment rate in Nagole differs from Rs 9,000 to Rs 10,000. HMDA has sold its plots between Rs 30 000 and Rs 40 000 for every square yard in the Uppal Bhagat layout near Nagole.
After the launch of Metro rail, the demand for lands in the adjoining regions was tremendous, and the costs of lands multiplied. The public value is around Rs 9,000 in Kalyan Nagar, near the Uppal Crossroad. But, within these regions, open plots in Hyderabad are sold for over Rs 70,000 to Rs 1 lakh.
The Registration &Stamps department proposes an increase in enrollment and stamp charges of 7% to 7.5% from the current 6%. The Government has now formed panels for revisions and reconsiderations.
If you are a buyer and actively looking to buy open plots in Hyderabad, now is the best time. Since these changes might bring a heavy upliftment to the overall pricing, it is better to invest now and reap the benefits than wait.