The YSRCP government in Andhra Pradesh headed by Chief Minister YS Jaganmohan Reddy is all set to give yet another shock to people in the state.
The Jagan government is planning to increase market value of lands across AP.
This will lead to an increase in registration charges and stamp duty.
The increase in market values is expected to come into force from August 1, 2021.
The decision was reportedly taken by CM Jagan to increase government revenue earnings which is facing severe financial crisis due to cash dole out schemes of YSRCP government in the name of ‘navarathnalu’.
Those buying lands in AP from August 1 have to shell out more for registration.
The YSRCP government has decided to increase market value of lands every year in urban areas and once in two years in rural areas.
The government asked officials to submit proposals on market value incease at the earliest for approval.