All set for hike in land prices in Andhra Pradesh from August 17

Andhra Pradesh: The land prices in Andhra Pradesh are set to rise, which will come to effect from next Monday. As per the registration department officials, the prices would be hiked by 10 to 20 per cent. With Coronavirus epidemic taking a toll on public and increase in the price of lands have become the hot topic in the state. The economic conditions of people from all walks of life have become imminent in the capital of Amaravati with the collapse of real estate and the decision of the three capitals. At such a juncture, the AP government decided to increase the registration fee. The increased charges will come into effect across the district from Monday.

In this backdrop, the officials of the Registration Department have sent the details of the new price s to the respective district authorities. It is known that the government increases prices every year in urban areas for every two years in rural areas. As the prices were increased in urban and rural areas, the fare hike this year has been limited to urban areas. The value of existing land in all towns across the district has been increased to not less than 10 per cent, which means that all the registration fees that have been in place so far are going to increase a lot in the cities.

This will greatly increase the value of land in the commercial areas of the respective towns, along the main road as well as in the suburbs and areas where new layouts have been laid.

Prices are expected to rise by 20 to 30 per cent, especially in the commercial areas. On the whole, there are concerns from the public about the government's decision to increase registration fees. It is feared that this will further freeze the sale and purchase of assets and real estate transactions.