Amaravati: State Revenue, Registration, and Stamps Minister Agani Satyaprasad announced that land registration values in Andhra Pradesh will increase starting February 1, 2024. A detailed report on the revisions is expected by January 15 to determine areas where rates need adjustments, either increased or reduced.
The minister reviewed the Registration and Stamps Department’s progress during a meeting held at the Tadepalli IG office. He emphasized that the decision aligns with the state’s recovery strategy from the financial strain caused by previous mismanagement.
“The state is gradually overcoming the debt burden left by the previous government. However, we also need to generate revenue. The registration values will be increased only in growth corridors and areas where land rates have surged. Conversely, in regions where registration values exceed actual land value, we will reduce them,” Minister Satyaprasad stated.
He further clarified that the proposed increase will average between 15% and 20% in areas experiencing growth. The changes aim to balance revenue generation while addressing discrepancies in the current land valuation system.
This scientific approach to revising land values is expected to enhance transparency and fairness in the state’s real estate market.
