• Depreciation value in Andhra Pradesh

Hello sir, I'm purchasing a property in Tirupati in which it has a building constructed in 1973. I have Building Approval from 1973. since it is an old building what is the Depreciation value of it in Andhra Pradesh state please provide the Ofiicial G.O number/state govt link regarding this.
Asked 3 years ago in Property Law
Religion: Hindu

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6 Answers

1. While buying a property with building, depreciated value of the building is not considered.

 

2. The present value of the property with the building will be considered to fix the circle rate for paying the stamp duty.

 

3. While filing the Q-Form with the draft copy of the sale deed before the Registrar to get the calculation of the stamp duty to be obtained before the registration, the description of the building shall have to be property mentioned to reduce the stamp duty.  

Krishna Kishore Ganguly
Advocate, Kolkata
27512 Answers
726 Consultations

You can use the property tax assessor's values to compute a ratio of the value of the land to the building.

For proper assessment of the value of the building or its depreciation, you may refer to Andhra Pradesh Municipal Asset Valuation Methodology Manual  and go through the contents fully if you want to make your own assessment otherwise you can contact a property assessor for this purpose and get the property assessed properly under his guidance, suggestion and obtain his report also to enable you to proceed with the desired task on this 

T Kalaiselvan
Advocate, Vellore
87707 Answers
2355 Consultations

     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.

 

Muraleedharan R
Advocate, Trivandrum
386 Answers
2 Consultations

Dear Sir,

 If you are in good books of concerned sub-registrar then you will get legal benefit.

Kishan Dutt Kalaskar
Advocate, Bangalore
6193 Answers
492 Consultations

- You can take details from the Andhra Pradesh Revision of Market Value Guidelines Rules, 1998” under the heading of Valuation of House Buildings & Flats . 

- Further, for getting certificate , you can approach the Panchayat Offices, Nagar Panchayats, Municipalities, Municipal Corporations . 

Mohammed Shahzad
Advocate, Delhi
14773 Answers
224 Consultations

you need approach the sub registrar office or land revenue website of the concerned state for the same

Prashant Nayak
Advocate, Mumbai
32863 Answers
209 Consultations

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