Land prices have witnessed a sudden decline in the capital region following new regulations imposed on registration of properties in AP. Farmers are also worried about the stalemate in registrations as they fear more trouble in the coming weeks.
The prices that were hovering around Rs 1.6-Rs 2 crore per acre in and around Tulluru mandal came down to Rs 1 crore on Monday. Farmers, who were keeping the buyers waiting in the last few months, have themselves begun to enquire with the local dealers about the market prospects in the coming weeks.
Although, the state government amended the registration rules with a view to avoid registrations with fake documents, it has crashed the market sentiments, resulting in loss of revenue to the exchequer. According to information, land registrations in the capital region have dipped to less than 30 per cent as compared to the average registrations in the last six months.
As per the new guidelines, no land, either agriculture or residential, would be registered without authorization granted by the local revenue authority.
It also suggested that the purchaser enclose a sub-division certificate issued by a revenue official along with the surveyor's endorsement.
While there was no clarity on who would be the competent authority, getting surveyor's certificate is very difficult as there are not enough surveyors across the state.
“It only helps revenue officials pocket more money,“ said Sambasiva Rao, a realtor.
The district registrars have now requested the government for clarification in order to set things right immediately.
“The new guidelines are not only vague but are likely to complicate matters further. It will impact the revenues of the registration department,“ a district registrar said.
The registration department got nearly Rs 1,300 crore revenue from the 13 districts in the last six months as against around Rs 660 crore the previous year. While the department was hoping to generate more revenue after revision of registration duties, the amendment of rules upset their calculations.
Sources said that the stamps and registrations inspector general was believed to have asked the sub-registrars and district registrars to go ahead with the registration of documents for a day stating that they would seek direction from the chief minister before issuing final guidelines.
However, local MLA T Sravan Kumar has assured the farmers that they would face no complications in getting their lands transferred. “In fact, we have been asking them not to sell their lands in haste,“ he said.
Source: TimesOfIndia
