Rs 500 Cr Revenue Generated from LRS 2020 by Warangal Municipal Corporation
The GWMC (Greater Warangal Municipal Corporation) authorities are expecting to generate Rs 400 to Rs 500 crore revenue from the Land Regularization Scheme (LRS), launched by the state government.
GWMC to Generate Revenue from LRS 2020
As of Tuesday, 17,221 LRS applications have been submitted, as per official sources. About 100 non-authorized layouts are under the GWMC limit, thousands of middle class and lower-middle-class families have purchased the land under those illegitimate and unauthorized layouts with a hope that state government would help or the regularisation of purchased plots. The LRS in the state was introduced and called for the regulation of individual landowners and developers of unauthorized layouts.
The layouts and sub-division of plots which have registered sale deed or title deed existing as on August 26, 2020, shall be considered for regularisation under the LRS, and the last date for accepting the applications through the online is October 15 by paying Rs 1,000 for plot owners and Rs 10,000 for layout owners. The owners of a plot or layout can use this golden opportunity. However, after verification by the authorities, the complete fee for regularisation shall be paid by the end of January 31, 2021.
In addition, the authorities have initiated a campaign to promote LRS awareness for layout owners and plot owners. The city body frequently using other platforms to convey the message in addition with distributing posters and pamphlets. It is noted that the most recent announcement of regularisation of plots and layouts by the Kakatiya Urban Development Authority (KUDA) in 2015, it has earned around Rs 200 crore through the scheme of LRS. The GWMC, however, was entrusted this time by the Government with the responsibility of regularising LRS lands.
The Government LRS announcement would bring a lot of relief to the middle-class people and plot owners. Moreover, at the time of registration, it has amended the rules to take into account the land value in effect and for reducing the regularisation fee.
By: Shailaja K