Andhra Pradesh government has decided to revise the existing land rates in the state. The government has the right to revise land rates in Urban areas every year. The Stamps and Registrations department has decided to increase the land rates by 30% and sent the proposals to Deputy CM, KE Krishna Murthy. It is said that KE had already signed the file and it is waiting for Chandra Babu’s signature after which the rates will come in to effect.
The real estate sector is high in certain districts of Andhra Pradesh due to the speculations of state capital. It is said that these are also taken in to consideration while deciding the land rates. This increase in land prices is confined only Towns and cities. Government had decided to spare the lands in rural areas this year. This new price system will come in to effect from August 1st.