Real estate market values to increase in Telangana
Changes in flat registration values in apartments
Flat market values to increase by 25 to 30 percent
The highest apartment in Jubilee Hills is Rs 4,800/sq.ft
Neknampur has the lowest with Rs 2,000/sq ft
The open market values of land in Telangana are expected to rise. The sector is preparing to increase the values of agricultural, non-agricultural lands, and apartments. It appears that apartment registration values in Hyderabad and Rangareddy districts will increase by 25% to 30%. Currently, in Jubilee Hills, the highest rate for residential apartments is Rs 4,800 per square feet, while in Neknampur, it is as low as Rs 2,000.
The government’s efforts to raise the open market values of land in Telangana have reached the final stage. It is anticipated that the registration values of agricultural, non-agricultural lands, and apartments will increase by approximately 25% to 60%, depending on the region. The increase in the open market prices of apartments has generated interest among buyers looking to purchase homes. The Revanth Reddy government is set to raise apartment market values, considering factors such as road development, infrastructure facilities, transportation convenience, and demand. Slight changes in values are expected across various regions in all districts of the state. Official sources indicate that the market values of residential apartments in all districts of the state are expected to rise by 25% to 30%.
In particular, the sector is ready to increase the per square feet value of apartments by 25% to 30% in high-demand areas in Hyderabad and Rangareddy. Currently, the rate for residential apartments per square feet in Jubilee Hills, Hyderabad is Rs 4,800, and it is estimated to rise to Rs 6,000. Officials state that Jubilee Hills has the highest market value for apartments in Hyderabad and Rangareddy districts. In the suburban area of Kokapet in Hyderabad, the current rate is Rs 3,000 per square feet, which is expected to increase to around Rs 4,000.
In areas like Madhapur, Puppalaguda, Gandipet, and Manikonda, the registration value for apartments is Rs 2,200 per square foot. If the market value increases by approximately 30%, the rate could rise to between Rs 2,800 and Rs 3,000 per square feet. Along with residential apartment values, the open market values of commercial buildings are also set to increase. Correspondingly, registration charges are expected to rise, leading to a significant increase in government revenue. The government estimates an income of around Rs 20,000 crore from stamps and registration fees for this financial year.
