Land rates in Vizag are likely to go up

Land rates in the fast-developing city of Visakhapatnam are likely to go up from 1 February, as the state government has decided to revise the rates in the urban areas.

Following a directive by the higher authorities, all eight sub-registrar offices in the urban areas of Visakhapatnam have taken up the exercise to revise the land rates.

It is learned that the higher authorities are visiting sub-registrar offices to make necessary suggestions to the staff on the rate revision.

The rates are likely to be revised based on the future development of the areas and the real estate sector scenario and other factors.

The coalition government in the state revised land rates in the urban and rural areas in February last.

The state government has netted a revenue of over Rs. 8,400 crore till now in this financial year, which comes to an end on 31 March.

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This article is written by Senior Journalist Lakkoju Nagesh Babu