Are market values going to be increased? Yes, says reports. The officials are working on drafting the new market values, if he have to go by the buzz. The registration and stamps department, which is taking up this herculean task is going to publish the draft proposals in another three days (February 16) provided that they get clearance from the different committees, which has various district and joint collectors in the team. The committees are most likely to clear these draft proposals by the end of February 15, said sources close to the department.

It has to be mentioned here that chief minister Kiran Kumar has earlier asked revenue and stamps department to revise market rates for registration, which should come into effect from April 1, 2013. Once the draft proposals, after getting clearance from the committees, are published, one month time would be given to the people of the state to raise any objections regarding the revision in the registration rates.

Although, there's no information as to how much the hike would be but then sources hinted that the minimum would be 20% and maximum 80 %. It basically depends on the area, said the officials. Notably, the present rate of registration of lands is Rs. 1200 per square feet in Rangareddy district. So, the new draft likely proposes to increase the same to Rs. 2000 per square feet. So, per square yard registration rates would be increased to Rs.20,000 from earlier Rs. 15,000.

The people in Rangareddy district might express their displeasure over the increase in stamp rates as they need to shell out some extra money to get their lands registered. Anyway, those who kept the registration work in pipeline may, however, speed up the process and get their lands registered within a month.

(AW Phani)