Telangana govt implements revised market rates of properties
Real Estate

Telangana govt implements revised market rates of properties

On Tuesday, the Telangana government, despite appeals from industry bodies to delay the launch, went ahead and executed updated market costs of properties in the state. The growth ranged anywhere between 25% and 50% depending on the type of property, with high-value land observing a maximum hike.

Open plots and flats witnessed a lower revision. As per the official data, the land value in Kokapet's residential localities, an upcoming realty destination in the city reached Rs 14,400 per square yard. It was around Rs 10,000 per square yard until recently.

In Puppalaguda, which is already home to numerous high-rises and big-ticket housing projects, the increase is steeper. The updated market value here has been fixed at Rs 21,000 per square yard, a neat 50% hike.

As per some industry developers, The new rates are much higher than that in a few cases. In the Kondapur-Gachibowli belt, for example, the market value of commercial properties fixed at upwards of Rs 26,000 per square yard was no more than Rs 12,000 to Rs 14,000 earlier. This update is going to push up the final cost of the property particularly, said a developer with projects in Shankarpally where the market value has been updated by 40%, from Rs 2,000 to Rs 2,800 per square yard.

This belt is additionally a fast-developing real estate pocket sitting on the fringes of Hyderabad.They understand that this update was long due. But they would have been comfortable with it had other costs not been raised simultaneously, particularly stamp duty that jumped from 6% to 7.5%, said a well-known developer.

The registration and stamps department of Telangana is likely to earn an additional Rs 3,000 to Rs 4,000 crore after the increase of rates.

Image Source

Also read: NMC not ready to waive tax on properties with less than 500 sq ft

On Tuesday, the Telangana government, despite appeals from industry bodies to delay the launch, went ahead and executed updated market costs of properties in the state. The growth ranged anywhere between 25% and 50% depending on the type of property, with high-value land observing a maximum hike. Open plots and flats witnessed a lower revision. As per the official data, the land value in Kokapet's residential localities, an upcoming realty destination in the city reached Rs 14,400 per square yard. It was around Rs 10,000 per square yard until recently. In Puppalaguda, which is already home to numerous high-rises and big-ticket housing projects, the increase is steeper. The updated market value here has been fixed at Rs 21,000 per square yard, a neat 50% hike. As per some industry developers, The new rates are much higher than that in a few cases. In the Kondapur-Gachibowli belt, for example, the market value of commercial properties fixed at upwards of Rs 26,000 per square yard was no more than Rs 12,000 to Rs 14,000 earlier. This update is going to push up the final cost of the property particularly, said a developer with projects in Shankarpally where the market value has been updated by 40%, from Rs 2,000 to Rs 2,800 per square yard. This belt is additionally a fast-developing real estate pocket sitting on the fringes of Hyderabad.They understand that this update was long due. But they would have been comfortable with it had other costs not been raised simultaneously, particularly stamp duty that jumped from 6% to 7.5%, said a well-known developer. The registration and stamps department of Telangana is likely to earn an additional Rs 3,000 to Rs 4,000 crore after the increase of rates. Image Source Also read: NMC not ready to waive tax on properties with less than 500 sq ft

Next Story
Real Estate

Sources Unlimited Launches Aurora Collection Inspired by Twilight

Sources Unlimited unveils the Aurora Collection, a luxury lighting series inspired by the soft glow before dawn. Featuring spherical forms and metallic accents, the collection plays with reflections and shadows, enhancing interiors with layered illumination. Designed for floors, tables, ceilings, and walls, Aurora seamlessly integrates into diverse spaces, from homes to hospitality settings. Now available at Sources Unlimited, the collection redefines lighting as an artistic medium, transforming spaces with warmth, nostalgia, and timeless beauty...

Next Story
Real Estate

Build Capital Exits Second SRA Project Investment Near BKC

Build Capital has successfully exited its investment in an SRA project near Bandra-Kurla Complex, marking another milestone in its structured real estate financing strategy. The early-stage investment helped the developer complete rehab work and align the project with DCPR 2034, enhancing total economics. With a 2.25 lakh sq. ft. development potential and projected revenue of over Rs 7.25 billion, the project generated a 19.76 per cent IRR with 100 per cent on-time interest payments. Commenting on the milestone, Kuldeep Jain, CEO of Build Capital, stated: “Our strategic funding and acti..

Next Story
Real Estate

Küche7 Unveils Affogato: A Fusion of Luxury and Function

Küche7, India’s luxury stainless steel kitchen specialist, has launched Affogato, a sculptural kitchen design that merges aesthetics with functionality. Featuring deep brown panels with a brownstone texture, a curved marble-topped island, and a seamlessly integrated gas cooktop, Affogato redefines culinary spaces. Thoughtfully designed storage ensures a clutter-free experience, while soft grey flooring and an inlaid ceiling complete its refined appeal. More than a kitchen, Affogato embodies slow li..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?