Stamp duty will be waived for properties within 125 yards.
The Telangana government has made an important move towards regularizing homes, non-agricultural lands, and other assets acquired on notary in urban areas, giving property owners a great deal of relief.
Naveen Mittal, Principal Secretary of the Revenue Department, has issued directives clarifying the parameters for the regularization procedure. He also urged the public to apply through MeeSeva centres.
According to the issued directives, applicants must produce link documentation as well as notary documents, property tax receipts, power bills, water bills, or any other proof of property ownership. The district collector will carefully review these applications before making a judgement.
Properties built on land owned by government shall be treated in accordance with the Rules of GOs 58 and 59, which control the regularization of structures on government land. Properties that do not intrude on government land, on the other hand, will be handled directly.
Notably, property within 125 yards will be free from stamp duty. However, properties bigger than this space would be liable to stamp duty depending on market value, as well as a Rs 5 fine. While the instructions clarify the requirements, there is no mention of a fixed date for application submission.
The problem of notary properties is not restricted to Hyderabad. It also affects other cities in the state. People have continuously asked the government to legalize these assets, and Chief Minister K Chandrasekhar Rao had pledged to examine the issue humanely. Property owners may now find relief and clarification on the status of their homes, thanks to the issue of orders for the regularization procedure.