The cabinet sub committee on resource mobilisation headed by finance minister Harish Rao and comprising of IT minister KT Rama Rao and other ministers on Tuesday recommended state government to increase registration value of lands and properties in Telangana.
The registration values in Telangana were last revised in Undivided Andhra Pradesh in 2013.
After bifurcation of state, Andhra Pradesh hiked registration values by seven times but Telangana government did not revise registration values even once.
Telangana government is currently facing severe financial crisis due to Covid and is exploring all the options to increase its earnings through sale of lands and increase in registration values etc.
TS government is all set to increase registration values of agriculture, non agriculture lands, commercial and residential properties.
The cabinet sub committee submitted report to Chief Minister K Chandrashekar Rao. The new rates are expected to come into effect from August 1.
With this, property registrations in Telangana is all set to get costlier.
