Registrations stopped in VGTM area?


If the news coming from Vijayawada,Guntur,Tenali and Mangalagiri (VGTM) are is to be believed, the government had put unofficial ban on the land registrations in the area. The land prices in the area have multiplied by several times with the speculations of Andhra Pradesh capital coming there. In order to keep a check on realtors, government reportedly asked to stop the registrations in the area. There are two reasons for this decision. One is to put a stop in the mad rush for lands based on speculations. Realtors have been telling fairy tales about the state capital and are selling the lands at obnoxious rates which will prove fatal if the state capital do not come there.

Second reason is that government is losing so much of money in these registration. Even though the land rates shot up in the area, registrations are being done at existing market price making government to lose money. Government will revise the land rates after the state capital announcement and registrations done with the new land rates fixed will mint money for the government.

Follow @mirchi9 for more User Comments
Music-Generating-Buzz-For--iSmart-ShankarDon't MissMusic Generating Buzz For iSmart ShankarA film by Puri Jagannadh is in itself an event that used to warrant a...Why is KCR Angry At Prime Minister Narendra Modi?Don't MissWhy is KCR Angry At Modi?Telangana Chief Minister K Chandrasekhara Rao addressed the media for the first time last night...Prabhas Offered a Crazy Script?Don't MissPrabhas Offered a Crazy Script?Crazy means, we don't literally mean it. It's just the kind of word that gets...Will-Jr-NTR-Fall--Prey-For-These-FolksDon't MissWill Junior Fall Prey For These Folks?Telugu Desam Party had registered its worst ever tally of just 23 MLA Seats and...A Look At Saaho Competition: Who Gets To Loose Most?Don't MissA Look At Saaho Competition: Who Gets To Lose Most?A triangular fight is confirmed for Independence Day in Bollywood when Saaho is slated to...