Category Archives: Real Estate

Yes, we can covert Peri-Urban to R1 as per GO – G.O.Ms.No.223, dt.30.08.2016.

In peri-urban zones, buildings are allowed with a ground coverage of not more than 25% for non-residential and residential uses as per GO – G.O.Ms.No.33, dt.24.1.2013(DMDP-2023)

In many non-commercial areas and residential colonies, the hike is expected to be 100%, while it could be 200% on commercial roads and between 20% and 50% in rural and municipal towns.

HYDERABAD: A day after a cabinet sub-committee on resource mobilization recommended enhancement of property registration values in the state, the registration and stamps (R&S) department is considering increasing land rates between 20% and 200% over the current registration rates.

If chief minister K Chandrasekhar Rao approves the proposal, the hike may come into effect from July second week instead of August 1, a senior official said.

In many non-commercial areas and residential colonies, the hike is expected to be 100%, while it could be 200% on commercial roads and between 20% and 50% in rural and municipal towns. In Greater Hyderabad and HMDA limits, the hike might be between 100% and 200% in areas where more documents (transactions) are being registered.

Explaining that there was a huge variation between registration (government) value and prevailing market value of land, officials said for instance in upmarket areas such as Madhapur, Guttala Begumpet, and Khanamet under Serilingampally sub-registrar office, the maximum (government) land registration values were Rs 30,000 per sq yard for commercial land (main roads) and Rs 20,000 per sq yd in residential colonies. “The market rate in these areas is Rs 1 lakh per sq yard in residential colonies and over Rs 2 lakh for commercial areas. The amount is expected to be doubled now,” an R&S department official said. Similarly, in Jubilee Hills, the rates were between Rs 50,000 and Rs 60,000 per sq yard while the properties (plots) were being sold at Rs 2 lakh per sq yard.

At the fastest-growing Nizampet, due to its proximity to Hi-Tec City, the land value is Rs 10,000, while in areas like Dundigal it was just Rs 2,000 while the market value is nearly Rs 20,000. In the eastern parts of the city, Uppal and Qutbullapur sub-registrar offices register more documents. In Nagole, the land registration rate is between Rs 9,000 and Rs 10,000. HMDA had sold its plots in Uppal Bhagat layout close to Nagole between Rs 30,000 and Rs 40,000 per sq yard.

“After Metro rail became operational, there has been a huge demand for properties in the abutting areas and the land prices are skyrocketing. At Kalyan Nagar near Uppal Crossroad, the government land value is just Rs 9,000. On the other hand, open plots are being sold for over Rs 70,000 and it is Rs 1 lakh close to the main road,” a sub-registrar said.

The R&S department is proposing a hike in registration charges and stamp duty from 7% to 7.5% from the existing 6%.

Meanwhile, the government has constituted committees at the village, Mandal, and district levels to approve the revised land registration rates.

As many as 15,968 transactions were recorded across the key eight real estate markets in the April to June quarter, leading to home sales declining by 16 percent year-on-year during the three-month period while registering a 76 percent quarter-to-quarter fall, a report by online property brokerage firm PropTiger has said.

RBI’s FSR attributes sales to pent-up demand, stamp duty cuts, interest rate drop

In an indication that the worst may be over for the retail real-estate sector, the level of unsold housing inventory has hit a 24-month low. According to RBI data, unsold inventory levels have come down to about 7 lakh units on March 31, 2021, from about 8.5 lakh units in FY20 first quarter.