The AP government, it appears, wants to fully exploit the real estate boom caused by the proposal to carve out new districts. It is planning to hike the registration fees and the stamp duty in three mandals of Tirupati by an exorbitantly high 90 per cent. The market value revision committee has accepted the proposed hike. With this the stamp duty in a total of 38 villages in the Tirupati urban madal is all set to be hiked.

The proposals for the hike in the stamp duty have been kept at the sub-registrar offices, mandal offices in Tirupati Urban, Rural and Renigunta mandal. The details have also been uploaded on the website of the registration department. The department will accept suggestions and objections from the people on Monday.

For instance, the land rates in Karakambabi residential area have sky-rocketed. Till recently, the per sq yard cost of the land was Rs 8800. But, how it has gone up to Rs 15000. In the commercial area of Karakambadi, the rates have gone up from Rs 11600 to Rs 25000. In Surappaasam area, the per sq yard rates of land have been increased to Rs 10000. On the Naidupeta-Puthalapattu Highway, the rates have gone up to Rs 15000.

Similarly, the rates have have gone up from Rs 24100 to Rs 35000 in Renikunta, Rs 12000 to Rs 14000 in Tukivakkam, Rs 12600 to Rs 20000 in Mangalam, from Rs 4900 to Rs 10000 in Gajula Mandyam, from Rs 28000 to Rs 40000 in Tiruchanuru and from Rs 91000 to Rs 1.20 lakh in the commercial areas of Renikunta.