Hyderabad: Realtors in Telangana are urging the state government to reconsider its decision to revise land market values and stamp duty charges. Chief Minister A Revanth Reddy has instructed officials to review and compare these rates with other states.
According to regulations, the market value of land must be updated annually. However, Real estate associations plan to meet with the government after the model code of conduct ends. C Shekar Reddy, national vice-chairman of CII – IGBC, highlighted maintaining affordability, stating, “This is not the right time to increase land rates. Focus should be on more turnover rather than increasing value.”
Shekar Reddy suggested reducing land value rationalization from 7.5% to 4.5% to increase market turnover and revenue. He highlighted that previous increases in land prices and registration charges have significantly impacted end-users, making property acquisition less affordable.
With multiple taxes and charges already burdening real estate transactions, realtors believe further increases could make basic housing unaffordable for lower-income and middle-income groups. They advocate for a balanced approach to support both investors and the public.
