‘25% hike in property value to burden AP people by `1,200 cr’

Visakhapatnam The recent revision in valuation of properties in Andhra Pradesh is expected to entail an additional burden of Rs 1,200 crore across the State and Rs 200 crore in the industrial hub of Visakhapatnam, according to citizens’ welfare associations.

Visakhapatnam Apartment Residents’ Welfare Association (VARWA) and Greater Visakha Resident Colony Associations’ Federation (NIVAS) said the Central and State Governments are playing with people’s properties.

“The people are being robbed in the name of property values, property taxes and user charges.

The State Government has increased the property values in Andhra Pradesh by 20 per cent to 25 per cent from June 1 leading to burdening the people by Rs 1,200 crore out of which it will be Rs 200 crore on the people of Visakhapatnam,” the associations said.

“Officials say that as the government hikes property values, owners will be benefited by an increase in the values of their properties. Yes. In fact the owner gets this value only at the time of selling. If we look at the explanations of the authorities, it can be understood that the purpose of increasing the values of these properties is only to increase the registration income coming to the Registrar’s Office through the real estate sector. But, house tax was linked to property value and converted into property tax. The fact is that the property tax will also increase from 20 per cent to 25 per cent even as this link is being suppressed intentionally to divert the people’s attention,” VARWA general president N Prakash Rao, secretary B B Ganesh, NIVAS president Pitta Narayana Murthy and others said.