In response to the rising demands made by the public on revising regularisation fees under LRS, the State government decided to reduce the fee for regularisation of plots or layouts. This decision would give relief to thousands of poor and medium-sized people who have purchased land for years and now have to regularise them.
Government Slashed LRS Charges
In addition to providing an excellent opportunity for regulating illegal layouts and plots, the Telangana government has cut the fee for regularisations and provided these property owners with the much-needed financial assistance. The step to reduce the fee for regularisation is welcomed by all, and members of the real estate sector.
President of CREDAI Telangana G.Ram Reddy supported the state government's decision to reduce the charge for regulations and added that this would do much to curb unauthorized layouts or plots. People can now be motivated by paying the appropriate fee to regularise their layouts and plots.
The Telangana government on Thursday revised the land regularisation rates under the Telangana Regularisation of Unapproved and Illegal Layout Rules. Under the revised rules, the Government provides seven slabs instead of the four proposed in GO No. 131, dated August 31, like in the old LRS scheme of 2015.
Revised Layout Regularisation Scheme 2020 Charges
Regularisation Charges for Market Value of Plot per sq.yd as on August 26, 2020 |
Regularization Charges in Rs per sq.yd (% of basic regularization charges ) |
below 3000 |
20 % |
between 3001-5000 |
30 % |
5001-10,000 |
40 % |
10,001 to 20,000 |
50 % |
20,001 to 30,000 |
60 % |
30,001-50,000 |
80 % |
above 50,000 |
100 % |
Besides, the Government also clarified that the pro-rata open space charges would be collected from those layout owners if 10% of open space is not available in the unapproved layout. The Pro-rata open space charges for layouts is 14% of the plot value. As well as unapproved layout owners who are applying for LRS 2020, they should not pay the NALA charges because the LRS 2020 fees include NALA charges also.
Reduced Fee Give Real Estate Owners Financial Relief
Apart from real estate organizations, both the general public and agents have expressed their satisfaction at the government orders. This new charges will benefit many middle-income people.
For e.g., if an individual acquired a plot in an unauthorized layout ten years ago without checking the rules and land requirements properly and the seller left them worried, now, this option, especially after the fee reduced for the LRS, would reduce the burden on buyers and others who find themselves in a similar situation, as they can officially regularise the plot.
Most lands had been under the remit of gram panchayats before HMDA or HUDA were formed. Many people, particularly middle-income groups, had bought small plots to fulfil their dreams to own a house. But, the land prices have risen dramatically, especially in the last five years, following the formation of HUDA or HMDA. All these factors have been taken into consideration by the Government, and fee rates have been reduced.
The new decision would reduce the burden of the middle-class people while regulating the land or properties in Hyderabad.
By: Shailaja K