Market Value Of Land To Rise

Hyderabad, India (PressExposure) July 23, 2008 -- The basic market value of land in the urban areas, including those falling in Greater Hyderabad Municipal Corporation limits, is likely to be increased by 8 to 10 per cent from August 1. With the real estate market gradually stabilising and revenue flow improving, the state government has decided to effect a low rate of increase.

Besides the GHMC limits, the revision of market value will take place in Visakhapatnam, Vijayawada and Guntur municipal corporation areas. Official sources said a final decision on the exact percentage of increase would be taken at a meeting which will be attended by the Chief Minister, Dr Y.S. Rajasekhar Reddy, on Wednesday. "The increase will not be more than 10 per cent in Hyderabad and its surroundings," a senior revenue department official said.

Sources said there would not be any revision of the value in the upmarket Gachibowli and Madhapur areas. The rates are likely to be retained in Banjara Hills and Jubilee Hills. The district stamps and registration officials have reportedly recommended an 8 per cent hike in areas like Narayanaguda, Himayatnagar, Srinagar and parts of Secunderabad. Sources said the basic value for structures will not see any major change. The government had earlier revised the value from Rs 550 per sq ft to Rs 580 per sq ft.

Meanwhile, the revenues went up in the first quarter when compared to the corresponding period in the previous financial year. Against a target of Rs 1,313 crore for the first quarter, the department achieved Rs 1,003 crore which is 75 per cent. While Hyderabad achieved 72 per cent of the target, Hyderabad (south) 81 per cent, North 63 per cent, Ranga Reddy (east) 72 per cent and Ranga Reddy achieved 72 per cent of the target.............

For Latest Real Estate News and Articles:

At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home.

We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI)

For More Information about Real Estate Hyderabad, India visit:

About maaproperties

Mahendra Varma has 3 years experience in writing articles; he is currently working as web analyst in

Press Release Source:

Press Release Submitted On: July 23, 2008 at 1:37 am
This article has been viewed 27956 time(s).