New LRS and BRS scheme is announced by the Telangana Govt. To apply before January 2, 2016

(Excl Ventures News.)We had reported recently that the Telangana State Govt will be launching LRS / BRS scheme to shore up revenue.

On Monday, the state govt announced new LRS (Layout Regularization Scheme) / BRS (Building Regularization Scheme) scheme to regularize illegal buildings and layouts and buildings with unauthorized construction.

Regularization would be allowed for both residential and commercial categories.

Properties registered between January 1 1985 and 28 October 2015 will be eligible for regularization.

The "Actual Regularization Charge" is a certain percentage of basic regularization charge. The percentage depends of the "Govt Market Value" of the land.

Basic Regularization Charge is to be first calculated and then the above percentage applied to this value to determine "Actual Regularization Charge".

BASIC REGULARISATION CHARGES:

Plot Area Less than 100 Sqm - Rs.200/sqm
Plot Area 101 to 300 Sqm - Rs.400/sqm
Plot Area 301 to 500 Sqm - Rs.600/sqm
Plot Area Above 500Sqm - Rs.750/sqm
Slums - Rs.5/sqm (irrespective of plot area and land value)

The "percentage" to be applied to the basic regularization charge, varies based on the Market Value of the land. Below Rs.3000/sqm, the percentage is 20.

Below 3000 (Market Value of Land) - 20%

3001 to 5000 - 30%

5001 to 10000 - 40%

10,001 to 20,000 - 50%

20,001 to 30,000 - 60%

30,001 to 50,000 - 80%

Above 50,000 - 100%

Example:

Assume Your plot size is : 300 sqm

Assume Govt Market Value for registration for that locality is : Rs.6000/sqm

Basic Regularization Charge = 300sqm x Rs.400/sqm = Rs.1,20,000

The payable "Actual Regularization Charge" = Rs.1,20,000 x 40% = Rs.48,000

(Hence Rs.48,000 is the regularization charge to be paid)

Apart from this, "Pro-rata open space charges" will be applicable if 10% open space is not available in the un-approved layout. Pro-rata open space charges @ 14% of the plot value prevailing as on the date of registration of such plot shall be paid.

The Govt is expected to set up an online system to accept applications. However, since several drawings and documents are to be furnished, most people will have to depend on agencies who assist in submitting applications.
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Keyword Tags Hyderabad News,LRS 2015, BRS 2015

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