Sunday, January 6, 2013

Registering a Property in Hyderabad? Pay more from April 1

Government of Andhra pradesh is all set to increase the property registration charges for rural and urban areas from coming April 2013.

With the market value being enhanced after 2011,the citizens should brace up to shell out more if planning to buy a new property. With the new rates being taken up after inviting objections from public ,the state is all set to increase the revenue to meet its targets.

Few points which have to be remembered :

  1. The land component of market value of the property is subject to change due to general revision

    once in a year for urban properties and 
    once in two years for rural properties

                OR

    - adhocly due to anomalies.
  2. The structure rate component of market value is subject to change due to revision of structure rates through an executive circular by the Department or by a government order

  3. The duties and fees are based on the market value determined by the system without considering Annual Rent or Consideration Value

  4. The correctness of the duties and fees is subject to the correct selection of Local Body and Nature of use.


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