The Commissioner and Inspector General (C&IG) of Registration and Stamps, Andhra Pradesh, in reference to the “Andhra Pradesh Revision of Market Value Guidelines Rules, 1998” which was published Published in official gazette vide G.O.Ms.No. 301, Revenue (Registration 2), dt 4-5-1998, has ordered (G.O.Ms.No. 157 Dated 30.03.2013) Valuation of House Buildings & Flats is assessed based on the structure values given by the C&IG vide Proceedings:
If the age of the structure is less than 10 years, the percentage of depreciation is NIL. For buildings aged above 10 years, depreciation shall be 1% per year subject to a maximum of 70%.
This is the current rate of depreciation. This is applicable to all Panchayats, Nagar Panchayats, Municipalities, Municipal Corporations, etc. For availing the depreciation certificate regarding the age proof should be obtained from the competent authorities viz., Panchayat Offices, Nagar Panchayats, Municipalities, Municipal Corporations, etc. and filed in the separate file in serial order, and particulars of certificate in respect of age proof should also be incorporated in the document.