Fine properties 360

  New project launches declined by over 90% after March, says a report by the website The second wave of COVID-19 caused a mighty blow to real estate in the twin cities with new launches declining by over 90%, inquiries having dipped by 30%, and sales plummeting up to 90% post-March onwards, said real estate website ‘99acres.com’ in a report released on Wednesday. “The economy went through a tumultuous time in April-June battling one of the biggest healthcare crises ushered by the unprecedented second wave of COVID-19. Like most sectors, transactions in the real estate market too came to a grinding halt in April with lockdown restrictions across the country,” said chief business officer Maneesh Upadhyaya. The January-March quarter witnessed site visits, home inquiries, and sales volume going up in both new home and resale segments but April and May recorded a dip in numbers unheard of. Owner listings, too, saw a 5% de-growth but home inquiries picked up in June with active COVID casel

  New project launches declined by over 90% after March, says a report by the website The second wave of COVID-19 caused a mighty blow to real estate in the twin cities with new launches declining by over 90%, inquiries having dipped by 30%, and sales plummeting up to 90% post-March onwards, said real estate website ‘99acres.com’ in a report released on Wednesday. “The economy went through a tumultuous time in April-June battling one of the biggest healthcare crises ushered by the unprecedented second wave of COVID-19. Like most sectors, transactions in the real estate market too came to a grinding halt in April with lockdown restrictions across the country,” said chief business officer Maneesh Upadhyaya. The January-March quarter witnessed site visits, home inquiries, and sales volume going up in both new home and resale segments but April and May recorded a dip in numbers unheard of. Owner listings, too, saw a 5% de-growth but home inquiries picked up in June with active COVID casel

  IT CORRIDOR Hyderabad has the highest leasing rate in the country Today, Hyderabad‌ City dwellers are not just buying houses, they are recently investing in commercial and office structures. These tend to have a higher rental income compared to house rents. The office market is moving in line with their expectations. Hyderabad has surpassed Bangalore for the first time in office leasing. Mumbai and Delhi are in the next positions. CBRE recently released its 2019 first-quarter report. Industry sources say this positive impact on the housing sector will last for two to three years. Demand for this specialty has grown significantly as a result of recent corporate scandals. The real estate sector in Hyderabad has been on a growth path for three to four years as compared to other cities. The supply of home and office space is high along with the demand. With the availability of skilled employees, recognition as a livable city along political stability, new companies are being set up here.

FARMLAND PLOT MA&UD Dept has ordered that prohibition of registration of farm plots if the area of the plot is less than 2000 sq mts or 20 Guntas This order has been issued according to the Telangana municipalities Act,2019. Telangana Panchayat Raj Act,2018 through Memo No G2/257/2019 . Dated 26/08/2020 of commissioner & I.G. Stamps & Registration Department. According to Telangana Municipalities Act,2019 and the Telangana Panchayat Raj Act,2018 has a provision of safeguarding against registration of unapproved plots, subdivisions, buildings, and structures, etc. As per the above provisions in the Act, the IG Stamps and Registration have issued orders prohibiting of registration of plots in the authorized layouts. This measure has given desired results to curb unauthorized layouts. In the recent past, it has come to the notice of the Government that some landowners /layout developers are still rampantly continuing with the development of unauthorized layouts in the name of

 The State Cabinet has taken a final decision on hiking registration rates and upward revision of land values. The Cabinet, according to sources, discussed at length the proposals submitted by the Registration and Stamps wing of the Revenue department for enhancing the registration values which remained constant since the formation of the State. The registration charges are proposed to be increased to 7.5 % in place of the existing 6 % of the value of the property. The Finance department too mooted the proposal as registration charges remained constant in Telangana when other States, including neighboring Andhra Pradesh, revised them several times in the past few years. The government had taken cognizance of the officials’ report that there was a huge variation in the land prices fixed by the government and the actual market value. As a result, registration of properties was being recorded as per government value, but the actual value of the registered property was much higher thereby

  60 SQ YARD PLOT SIZE. In a major initiative for budget housing, Municipal Administration and Urban Development (MA&UD) Department issued a G.O., to facilitate the poor in the State to buy small plots and construct their dream home as developers can now develop 60-yard plots in layouts . Earlier, the minimum size of plots in layout was 143 yards and this has now been reduced to 60 square yards . These new rules are applicable in all municipalities and municipal corporations in the State except for GHMC and HMDA areas. Further , under TS-bPASS rules, for plots with an area up to 75 square yards , no building permit is required for the construction of an individual house. The applicant will have to register online to construct the house paying Rs 1 as a token fee. These new orders will be beneficial to both buyers and developers. In the past, finding a small plot with proper dimensions was a challenge for buyers. With the new order, developers can now develop small plots to cat

The State Cabinet has taken a final decision on hiking registration rates and upward revision of land values. The Cabinet, according to sources, discussed at length the proposals submitted by the Registration and Stamps wing of the Revenue department for enhancing the registration values which remained constant since the formation of the State. The registration charges are proposed to be increased to 7.5 % in place of the existing 6 % of the value of the property. The Finance department too mooted the proposal as registration charges remained constant in Telangana when other States, including neighboring Andhra Pradesh, revised them several times in the past few years. The government had taken cognizance of the officials’ report that there was a huge variation in the land prices fixed by the government and the actual market value. As a result, registration of properties was being recorded as per government value, but the actual value of the registered property was much higher thereby

60 SQ YARD PLOT SIZE  In a major initiative for budget housing, Municipal Administration and Urban Development (MA&UD) Department issued a G.O., to facilitate the poor in the State to buy small plots and construct their dream home as developers can now develop 60-yard plots in layouts . Earlier, the minimum size of plots in layout was 143 yards and this has now been reduced to 60 square yards . These new rules are applicable in all municipalities and municipal corporations in the State except for GHMC and HMDA areas. Further , under TS-bPASS rules, for plots with an area up to 75 square yards , no building permit is required for the construction of an individual house. The applicant will have to register online to construct the house paying Rs 1 as a token fee. These new orders will be beneficial to both buyers and developers. In the past, finding a small plot with proper dimensions was a challenge for buyers. With the new order, developers can now develop small plots to cater t

                                           AGRICULTURE LAND CONVERSION  Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities by paying prescribed tax. To cater to the misuse of agricultural land use the government has imposed the guidelines in the Telangana Agricultural Land (Conversion Of Non- Agriculture Purpose) Act 2006. The Andhra Pradesh Agricultural Land (Conversion for Non Agricultural purposes) Act, 2006 received the assent of the Governor on the 30th December 2005. The said Act in force in the combined State, as of 02.06.2014, has been adapted to the State of Telangana, under section 101 of the Andhra Pradesh Reorganisation Act, 2014 (Central Act 6 of 2014) vide. the Notification issued in G.O.Ms.No.4, Revenue (Land Matters) Department, dated 05.01.2016.  Substituted by G.O.Ms.No.4, Revenue (Land Matters) Department, dated 05.01.2016. The NALA Act extends to the whole state of Telangana. To give

LAND CONVERSION Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities by paying prescribed tax. To cater to the misuse of agricultural land use the government has imposed the guidelines in the Telangana Agricultural Land (Conversion Of Non- Agriculture Purpose) Act 2006. The Andhra Pradesh Agricultural Land (Conversion for Non Agricultural purposes) Act, 2006 received the assent of the Governor on the 30th December 2005. The said Act in force in the combined State, as of 02.06.2014, has been adapted to the State of Telangana, under section 101 of the Andhra Pradesh Reorganisation Act, 2014 (Central Act 6 of 2014) vide. the Notification issued in G.O.Ms.No.4, Revenue (Land Matters) Department, dated 05.01.2016.  Substituted by G.O.Ms.No.4, Revenue (Land Matters) Department, dated 05.01.2016. The NALA Act extends to the whole state of Telangana. To give the complete understanding of the land conversion of agricultural

                                    Telangana Land Value Hike  Telangana government is in discussions to enhance the land value of non-agriculture lands between 30% to 50%. Due to pandemic lockdown, the revenue of the government has decreased. It hurt the government exchequer. After GST and Excise, revenue is earned by the government through property registrations. If CM K. Chandrashekar Rao okays the proposal, the land market value may be enhanced. If the proposal comes into force the government may achieve 12,500 Crore this financial year (2020-21). The land market value may be enhanced for non-agriculture land up to 30% to 50%. While 30% enhancement may be in rural areas, while 50% will be in Hyderabad and other municipal corporations. For agriculture properties, the hike in the value would be about 20% on the existing rates. The government has powers to revise market value every year under the Indian Stamps Act, land values have not been revised after the formation of

LAND VALUE HIKE Telangana government is in discussions to enhance the land value of non-agriculture lands between 30% to 50%. Due to pandemic lockdown, the revenue of the government has decreased. It hurt the government exchequer. After GST and Excise, revenue is earned by the government through property registrations. If CM K. Chandrashekar Rao okays the proposal, the land market value may be enhanced. If the proposal comes into force the government may achieve 12,500 Crore this financial year (2020-21). The land market value may be enhanced for non-agriculture land up to 30% to 50%. While 30% enhancement may be in rural areas, while 50% will be in Hyderabad and other municipal corporations. For agriculture properties, the hike in the value would be about 20% on the existing rates. The government has powers to revise market value every year under the Indian Stamps Act, land values have not been revised after the formation of Telangana. The last revision was done in August 2013. When t