Hyderabad: Land values between the Outer Ring Road (ORR) and the planned Regional Ring Road (RRR) are expected to increase soon.
The state government aims to boost revenue by tapping into the rising demand for land for both industrial and residential use within the RRR area. Plans are underway to raise the market value of lands, flats, and commercial properties in this growing region.
The State Revenue and Stamps and Registration departments plan to double land values in certain zones where prices have already surged. Officials note that the development of Future City, pharma hubs, industrial clusters, and educational institutions like Young India Sports and Skills Universities is driving interest in the real estate market. As a result, new residential and commercial projects are rapidly emerging within the RRR boundaries.
Officials highlight that the swift expansion of urban areas signals land sales are increasing. This presents an opportunity for the government to boost revenue by raising land values.
Currently, the market value of land between the ORR and RRR is relatively low, resulting in modest registration revenues. Officials argue that adjusting land values is necessary to match rising demand.
The government will make a decision on adjusting market values once the Stamps and Registration department finalizes its proposals and submits them to the Chief Minister’s Office (CMO). While specific details of the increase are not yet disclosed, significant hikes are expected. Updated rates will be available at local sub-registrar offices once approved.
Additionally, a similar review of land values in other parts of the state is being considered. A decision will be made when appropriate, taking into account the slowdown in the real estate market in various regions.
