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.

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