The recent decision to regularise land of about 110-acres in Azamabad Industrial Area Telangana government has created a buzz in the real estate sector. It is assumed to replenish the state repository with Rs 2,000 crore. Apparently, allottees and industrialists who lobby with the government are in favour of converting the land into a freehold.
What is regularisation of land?
Regularisation is a process by which unapproved/unauthorised colonies are made legal and the property titles in them are recognised by law and can be registered with the authorities.
Why regularisation of land done by the governments?
There will be a number of benefits associated with regularisation. These include improved physical and social infrastructure, a minimum of civic services and community facilities, and an increase in employment opportunities.
How is it done?
A development charge is collected to fund colonisation. The land is re-designated as residential, and plot owners receive clear titles to their properties. As a result, they attain clear title to the property and can register the deed of conveyance. Thus, land transfers are done through registered deeds of conveyance.
Telangana's government has launched new land regularisation rules through an update to the Layout Registration Scheme 2022.
What is the objective of the LRS ( Layout Registration Scheme) 2022?
The Telangana government has recently issued orders to update certain clauses in Government Order No. 135, dated September 16. As a result of the revised update in the scheme, the government will now provide 7 slabs instead of the previously launched four in GO No. 131, dated August 31, as in the old LRS scheme of 2015. Furthermore, the government has enacted new regularisation charges that reflect the current market value including the NALA fee in LRS charges.
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