Hyderabad: Property registration costs increased across Telangana after the State Government implemented revised market values for land and properties. The updated rates came into effect through the Registration Department’s Integrated Grievance Redressal System (IGRS) portal and now apply to property transactions across the state.
Officials said the revised values were aligned with prevailing market prices. As a result, buyers must pay higher registration charges for several categories of properties. The revision covers agricultural land, non-agricultural land, residential plots, independent houses and apartments.
The government introduced the changes after completing a review of existing market values. Consequently, the revision is expected to influence property prices and increase transaction costs in many areas. Industry observers also expect the new rates to affect the broader real estate market.
Revised market values drive property registration costs higher
Many buyers and sellers rushed to complete transactions before the revised rates took effect. Therefore, Sub-Registrar offices witnessed heavy crowds on Thursday.
To manage the rush, the government extended office working hours until 7:30 pm. In addition, authorities directed officials to complete registrations for all applicants who had already obtained tokens. Officials also made special arrangements to ensure pending registrations were processed smoothly.
The increase in property registration costs marks a significant change for the real estate sector. Meanwhile, buyers and sellers will now have to factor higher registration expenses into future property transactions across Telangana.
