State Government Considering Changes to Stamp Duty and Land Regulations
The Telangana state government is exploring the possibility of reducing stamp duty and registration charges for property transactions. Officials are evaluating how to adjust these charges based on the demand for properties and the location of the land.
Revenue and Information & Public Relations Minister Ponguleti Srinivas Reddy, in an exclusive interview with Hans India, stated that the government is working on finalizing land values for each area. The goal is to determine stamp duty rates that benefit both property buyers and the state government.
The Minister also mentioned the introduction of the proposed Right of Rights (RoR) Act. This new legislation aims to strengthen the state’s land revenue system. He revealed that the RoR bill would be presented during the current assembly session, ensuring better governance of the village revenue system.
At present, the stamp duty collected during property registrations is inconsistent. In some areas, buyers are required to pay higher stamp duty even if the property value is comparatively low. Meanwhile, in other locations, the charges are less than the actual market value.
These irregularities in stamp duty collection have caused financial losses to the state government. Minister Srinivas Reddy assured that the government plans to address these issues by implementing a system where stamp duty is aligned with the actual land value in each area.
When asked about land encroachments, the Minister highlighted ongoing investigations into illegal land occupations during the previous BRS regime. He confirmed that a detailed report on these encroachments would be presented in the assembly. This report will shed light on the alleged misdeeds of the BRS government during its decade-long rule in Telangana.
