AP govt hikes land rates in newly formed districts, to come into effect from April 6

Within a few hours of the formation of new districts, the Andhra Pradesh government gave approval for hike in the value of lands located near the district headquarters. The revised land rates would come into effect from Wednesday (April 6) onwards.
 
Due to the Covid-19 pandemic situation, the state government had announced on July 9, 2021, that land rates will be not be changed till March 31, 2022. The proposals submitted by Stamps and Registrations IG recommending upward revision in the value of lands were accepted by the AP government on Monday.
 
According to sources, the market value of lands is expected to go up by 20 to 40 per cent in most of the new districts. In the industrial area of Renigunta falling under the newly created Tirupati district, the market value per acre is Rs 7.52 lakh. A committee headed by a joint collector had proposed Rs 40 lakh per acre, a steep hike of 432 per cent. 
 
The value of lands in West Godavari, East Godavari and Kona Seema districts to go up by 20 to 25 per cent. Land buyers have to bear an additional registration charge of Rs 30,000 to 50,000 per acre.