The state govt has decided to revise land prices from Feb 1, 2025. Unlike earlier, the revision of land prices is being done as per prevailing market value in the respective areas. Although the land values were to be revised from Jan 1, it was postponed to Feb 1 as a detailed study of market values of lands at various places is still underway.
As the actual market value set by the govt is higher than the prevailing price at some places, the govt, for the first time, has decided to do a downward revision of the prices in those areas, said revenue minister Anagani Satya Prasad. He added that the govt is expecting a report by Jan 15 with recommendations on upward and downward revision of prices as per market conditions. “Land prices will be increased by 15% to 20% depending upon market conditions. The downward revision is also likely to be in the same range where value mismatch exists,” he said.
The minister further stated that a detailed exercise is being done to fix land values by adopting a rational method instead of mechanically increasing the values as done by the previous govt. The revenue dept has set a target of Rs 9,500 crore for the present financial year, he said, and expressed confidence that they will meet the target. He said the dept received 1.7 lakh complaints in revenue meetings. Out of the total complaints, 11,000 were resolved on the spot, and work is in progress with regard to other complaints, he added.
