Hyderabad: Revenue minister Ponguleti Srinivas Reddy has directed stamps and registrations officials to revise market value of land in a scientific manner, in accordance with market rates, while ensuring that there is no burden on middle-class property buyers.
Srinivas Reddy asked officials to identify areas with more variation of land values to determine a rational increase. In some areas, the government price is higher than the market value and it should be reduced accordingly.
He was speaking at a review meeting with principal secretary, revenue, Naveen Mittal, IG, stamps and registrations, Jyoti Buddha Prakash, and senior officials.
Officials were directed to take steps for a complete overhaul of the stamps and registrations department, including plugging legal loopholes. The minister announced plans to construct permanent sub-registrar offices with state-of-the-art facilities. Officials were instructed to identify suitable sites for the purpose.
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