Telangana Government to Hike Land Registration Rates by up to 100%
Hey Hyderabad property enthusiasts! We all know that beyond the sale price, registration costs are a big part of buying property. Well, get ready for an update: the Telangana government is planning to revise land registration rates, potentially increasing them by 20% to even 100% in some areas. This move aims to align the government's official land valuations closer to the actual market rates, especially in sought-after western Hyderabad locations like Kokapet, Gandipet, and Gachibowli, and generate additional revenue. Essentially, your upfront costs for stamp duty and registration will see a rise. So, for those of you actively looking to invest or buy, do you think this adjustment in registration charges significantly changes your market outlook for Hyderabad?
Comments
U9, I don't agree. Speculators have deep pockets, they won't be deterred as much as genuine buyers who are stretching their budgets. This just adds another layer of financial burden on us. Is there any way to avoid these higher charges for properties booked before the hike?
U7, to answer your question, banks usually consider the higher of the two values (agreement value or market value as per government records) for their loan-to-value calculations. So yes, if the registration value goes up, your loan eligibility for the same property might indeed get affected
I actually think this move might be beneficial for genuine buyers in the long run. The huge disparity between official and market rates fueled a lot of speculation, especially in prime areas like Banjara Hills. With higher upfront costs, it might deter some speculative investors who flip properties quickly, leading to a more stable and realistic market. Maybe areas slightly further out, like Alwal, will see more organic growth now.
I was just about to finalize a 2BHK in Attapur next month, everything was looking good. Now I'm totally confused. Should I pull back and wait, or rush it before the rates officially change? Builder se baat ki toh woh bhi kuch clear nahi bata raha. Any thoughts?
Yeh sab bas government ka revenue badhane ka tareeka hai. Hum middle class logon pe hi bojh padta hai hamesha. Unfair!
U6, that's a good point. Also, will banks consider the new higher registration value or the actual sale deed value for loan calculations? Because if they consider the higher one, my loan eligibility might also get affected, right?
Dekho, yeh situation tricky hai. Builders sometimes absorb a part of the hike initially to clear inventory, but that's usually for a very short window. Check RERA filings for your project in Attapur. Agar builder ne price revise kiya hai ya koi special offer de raha hai, tab socho. Otherwise, Gandipet jaise areas mein bhi yeh hike lagne wali hai, so it's not just Attapur. Long-term investment hai toh thoda delay kar sakte ho, but rush karne mein bhi risk hai ki aap overpay na kar do if the market reacts negatively.
Well, on the flip side, isn't this a step towards market transparency? Actual rates toh already higher the, ab government records bhi match ho jayenge. Maybe it's good in the long run?
Yaar, yeh toh seedha seedha hum first-time buyers pe bojh hai! Already EMI aur down payment ka sochte sochte neend ud jaati hai, upar se yeh 100% hike? Matlab agar main Kokapet mein koi choti si property dekh raha tha, toh ab toh uski registration cost hi meri poori savings le jayegi. Kya ab Hyderabad mein property lena sirf sapna banke reh jayega?
Totally agree! It's a huge blow for us first-timers.
Sahi keh rahe ho. Mera bhi same haal hai. Kitna mushkil se thoda bahut jod paaya tha, socha tha ab invest karne ka right time hai, par yeh news toh poora game hi change kar gayi. Ab toh lagta hai EMI ke saath yeh registration costs bhi budget se bahar ho jayenge.