The YSRCP government in Andhra Pradesh headed by Chief Minister YS Jaganmohan Reddy has dealt yet another blow to buyers of lands and homes.
The state government has increased land, house, flat registration charges sharply from today, August 10, 2020, Monday.
The property registration charges were increased by up to 50% depending on the areas.
The hike is more in cities like Vijayawada, Visakahpatnam, Kakinada, etc.
AP people are already facing severe financial problems due to corona pandemic with salary cuts, loss of jobs and livelihood.
Also the real estate market in AP crashed after Jagan become CM due to his decisions like shifting of Amaravathi capital, shortage of sand, expensive cement etc.
There is no increase in market value of property anywhere in AP after Jagan became CM in May 2019.
Despite this, Jagan has decided to increase property registration charges in AP.
Neighbouring Telangana did not increase property registration charges even once after formation of Telangana state six years ago in 2014 thought there is a big boom in real estate in Hyderabad and all districts, with the creation of 23 new districts in 2016.
Telangana is still implementing registration charges that were increased in United AP by Kiran Kumar Reddy government in 2013.