With the real-estate sector flourishing, market value in AP has peaked. A 35% increase in revenue from stamps and registrations was reported by the Andhra Pradesh Government in March 2022. If you are planning to purchase a plot, commercial property or residential property in Andhra Pradesh, you need to be aware of land market value in AP.
Read on to know what is market value of land, the impact it has, role of IGRS and how to check market value of land in AP online.
The market value of land in AP reflects a land’s worth. When it comes to the sale of land, all concerned parties involved in the transaction are mandated to pay stamp duty on specified documents, including the sale agreement.
To aid buyers and sellers in getting the correct market value of land in Andhra Pradesh, the state has incorporated the Computer-aided Administration of Registration Department.
The state government’s decision to hike land market value in Andhra Pradesh has resulted in increased land prices in the villages near adjoining district headquarters. For instance, the price of land in Bapatla has reached up to Rs. 10,000 – Rs.14,000 per square yard, as compared to a previously recorded price of Rs. 3,000 – Rs.4,000.
Furthermore, the workload in registration offices has also doubled as individuals seek to register their properties at the prevalent market value.
As per parliamentary constituencies, the Government of Andhra Pradesh added 13 new districts in the state on April 4, 2022. This brought the total number of districts in AP to 26. The following table highlights the names of newly formed 13 districts and their respective headquarters:
District | Headquarter |
Anakapalli | Anakapalli |
Parvathipuram Manyam | Parvathipuram |
NTR | Vijayawada |
Konaseema | Amalapuram |
Sri Satya Sai | Puttaparthi |
Palnadu | Narasaraopet |
Alluri Sitharama Raju | Paderu |
Sri Balaji | Tirupathi |
Eluru | Eluru |
Kakinada | Kakinada |
Bapatla | Bapatla |
Annamayya | Rayachoti |
Nandyal | Nandyal |
Furthermore, a minimum revision of 5% to a maximum revision of 75% with regard to the market value of property in AP has been done in all newly formed districts. As per the Department of Registration and Stamps, the revision of market value in AP ranges between 15% and 25% on an average basis.
Any change in guideline value will impact AP’s land market value. The real-estate sector is one of Andhra Pradesh Government’s most profitable revenue areas. However, this does not necessarily mean that the market value in AP will continue to rise indefinitely.
Concerning this, an increased guidance value indicates that the market value of properties will rise. Meanwhile, a decreased guidance value means that the market value in AP will fall. That said, guidance value is not based on market demand only. Rather, they are determined by thorough market research.
The Department of Registration and Stamps inaugurated IGRS AP to facilitate various land-related services online. The role of IGRS AP market value is to reduce black money.
IGRS (Inspector-General of Registration and Stamps) strives to maintain a property’s circle rate close to its market rate. This is basically done to avoid black money transactions that could impact the exchequer’s revenue, especially because property tax accounts for a major portion of any state’s revenue.
The land market value in Andhra Pradesh differs because it depends on various factors, such as the location of the property, its overall condition, age, etc.
Furthermore, this guidance value can be utilised in different attributes of a given area. That said, the development stage of a property determines its guidance value, which in turn, affects the market value in AP. For instance, a property situated in a well-established neighbourhood will feature a higher guidance value.
The State Government decides the market value of land in AP after conducting thorough research. However, the property seller has the complete right to decide the price at which he/she sells the property. Buyers cannot force sellers to sell their property at the guidance value decided by the government.
You can check AP govt land market value by following these steps:
Click on IGRS. You will be directed to the Registration and Stamps Department of AP Government.
Scroll down and click on the “Market Value Assistance’.
Next, depending on what kind of land’s market value you want to find, select ‘market value of agricultural land’ or ‘non-agricultural land’.
Enter a few details, such as village, mandal and district.
Click on submit. Following this, you will be able to view the market value of land in AP.
Property purchases in India can become tricky if you do not stay updated with the various aspects of real estate. In this regard, the above sections highlight crucial details regarding market value in AP that can be of your help when you embark on your journey of purchasing a property.
Ans: You can check a property’s market value in Andhra Pradesh offline by writing an application to the junior/senior assistant at the sub-registrar’s office. He/she will then issue you a computer-generated value slip after an hour when you make a payment of Rs. 10.
Ans: You can visit the Meebhoomi website and then click on the land conversion details to view information regarding the previous landowner. After following this step, you need to enter a few details, such as zone, district, survey number, village number, and more, to submit your request.
Ans: You need to visit the Meebhoomi website to check plot details in Andhra Pradesh. On the website, choose your respective village from the menu bar. After that, enter a few details, such as Aadhaar number, name, survey number, and more to proceed.
Ans: Yes, the market value of a property depends on various factors, including its age, condition, etc. Thus, a property in a well-maintained condition will have a higher market value as opposed to the one which lacks maintenance.
Ans: As of now, the stamp duty rate in Andhra Pradesh stands at 5% of the value of the property. However, this amount might change as per the government’s regulations. Meanwhile, the land registration and transfer fees are set at 1% and 1.5%, respectively.
Are you looking to buy that house you’ve been eyeing 🏠 and you need a loan of up to ₹5 crore. Install the Navi app now and get instant in-principle approval right away! Interest rates starting at 8.74% p.a.
Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
Home Loan
Housing Loan Interest Rates in 2023: Formula, Calculation and Charges
With RBI increasing its repo rate to 6.25%, lenders have increased their home loan interest rates t... Read More »Home Loan
Get Home Loan In Dharwad – Interest Rates and How to Apply Online
Dharwad, located in the north-western part of Karnataka, is a developing industrial hub of the stat... Read More »Home Loan
How to Apply for a Home Loan in Bangalore – Interest Rates and Eligibility Criteria
Getting a home loan in Bangalore wouldn't be too difficult if you have the repaying capacity and a ... Read More »Home Loan
Home Loan Repayment Calculator – Best Ways to Repay Home Loans
Home loan repayment (foreclosure) refers to the complete repayment of the outstanding loan amount t... Read More »Home Loan
8 Home Loan Tips You Should Consider
Buying a home is a dream come true for many. This is a crucial decision in someone’s life financi... Read More »Home Loan
Tips to Consider Before Purchasing Your First Home
Buying your first home is essential, and emotional for many in India. It is one of the most sought-... Read More »Home Loan
Benefits of Taking a Joint Home Loan in India – Tax Benefits (2023)
While applying for a home loan it is not mandatory to have a co-applicant. However, there are multi... Read More »Home Loan
Mortgage Loan/Loan Against Property: Eligibility, Interest Rates and Things to Consider
A mortgage loan is a secured financing option sanctioned against a property kept as collateral. Als... Read More »Home Loan
RERA Telangana – TSRERA Services, Registration Process and Fees
On 31st July 2017, the state government of Telangana notified the TSRERA or Telangana State Real Es... Read More »Home Loan
Loan-to-Value Ratio | Working, Calculation, Guidelines and Impact
The loan-to-value (LTV) ratio is a risk evaluation method used by financial institutions and l... Read More »Home Loan
What is Earnest Money and its Significance in Real Estate Sector?
High-value investments, such as home purchases or highly priced government and private projects, ge... Read More »Home Loan
Best Banks and NBFCs for Home Loans in India – Interest Rates and Eligibility
If you are planning to buy a home, you must start comparing the interest rates and loan repayment t... Read More »Mutual Funds
Top 10 Chit Fund Schemes in India in 2023
Chit funds are one of the most popular return-generating saving schemes in India. It is a financial... Read More »Personal Loans
₹15,000 Personal Loan: Features, Benefits, EMI and Interest Rate
Financial emergencies can be short term and you might not always require a large amount to handle t... Read More »Personal Loans
Personal Loan Interest Rates in India – Charges and Processing Fee
Applying for a personal loan? Have you compared the personal interest rates and processing fees? ... Read More »Mutual Funds
10 Best Gold ETFs to Invest in India [2023]
Gold ETFs or Gold Exchange Traded Funds are passively managed funds that track the price of physica... Read More »Health Insurance
TPA in Health Insurance – Full Form, Functions and Roles
TPA (full form – Third Party Administrator) is a licensed intermediary between health insurance p... Read More »Banking
ATM Card AMC (Annual Maintenance Charge): Explained
ATM Card AMC (Annual Maintenance Charge) is a maintenance fee levied by banks every year. This debi... Read More »Mutual Funds
Top 10 Demat Accounts in India [Lowest Brokerage Charges]
A Demat account was created to eliminate the time-consuming and inconvenient procedure of purchasin... Read More »Mutual Funds
20 Best Index Funds in India to Invest in 2023 (27th Jan)
What is an Index Fund? An index fund is a type of mutual fund or exchange-traded fund (ETF) that... Read More »All information is subject to specific conditions | © 2023 Navi Technologies Ltd. All rights are reserved.
Start Small. Dream Big.
Start your Investment Journey with just ₹10