Govt. eyes over 12,000 cr. revenue

The State government has finally effected upward revision of market values of lands after an elaborate exercise lasting a few weeks.The decision follows significant appreciation of land values in the

The State government has finally effected upward revision of market values of lands after an elaborate exercise lasting a few weeks. The decision follows significant appreciation of land values in the urban areas, Hyderabad Metropolitan Development Authority jurisdiction in particular. The new irrigation projects brought with them vast area under ayacut, thereby leading to considerable increase of values of agricultural lands. The exercise follows reports that there was huge variation in the land prices fixed by the government and the actual market value. As a result, registration of properties was being recorded as per government value, but the actual value of the registered property was much higher thereby impacting the government’s revenues.