HYDERABAD: With the Telangana Government's decision on its new Layout Regularisation Scheme (LRS) pending, realtors in the State are demanding the Government to scrap the proposal. The government is charging LRS based on the current market rate. While many people would have bought properties years ago at prices much lesser than the current market value and with the land prices now soaring, people may have to shell out more towards the LRS than the original cost of land is what the realtor associations are saying.
As per reports in the new system, wherein slot bookings were required, the registration of open plots was very less and only a handful for built-up properties took place. Without scrapping the LRS, there will not be much change even if slot booking is done away with they say.
They say that with thousands of LRS registrations pending and no clarity so far about the current registration either from the Chief Minister K Chandrasekhara Rao or the Municipal Minister KT Rama Rao, they will have to step up protests and bring the issue to light.
The Telangana State Realtors Association (TSRA) announced on Saturday that it would take up protests on various days starting from Sunday across the state with the sub-registrar offices as venues of the strikes, they said.
Right after clearing the registration of non-agricultural properties through the old CARD mode the Chief Minister is now set to address the LRS. Since the lands covered under the LRS scheme are not permitted to be sold and registrations have been stopped for the last four months, it is learnt that the Government will come with a new proposal in about two weeks' time. Official sources said that KCR is reviewing the financial burden faced by the LRS applicants for the regularization of their land based on the land prices in the open market. Officials said that the market values of the properties in the commercially grown areas are under study. Once the reports are received, a final decision on the LRS fee to be collected from the applicants in different locations will be decided. (With inputs from TNIE)