The Ready reckoner rate is the minimal value for property registration as determined by the state of Karnataka. In Karnataka, ready reckoner rates are often referred to as circle rates of property’s “guideline value.” In the majority of Karnataka’s regions and Bangalore localities, these prices are less expensive than the going cost. Check out the article to know the latest ready reckoner rates in Bangalore.
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Why Ready Reckoner Rate in Bangalore is Important
The state government of Karnataka establishes ready reckoner rates, which set the unit price below which no real estate transactions are permitted.
You can easily obtain the Ready Reckoner prices for your desired property in Bangalore by going to the Ministry of Stamp and Registration’s internet web portal.
The Ready Reckoner rate in Bangalore is an important factor in learning why,
- Ready Reckoner rates assist in determining the appropriate price for a particular property.
- The Karnataka state government develops a circle rate list for each neighbourhood after taking into account a number of variables, including the area, use, kind, and other characteristics of properties.
- The ready reckoner rates in Bangalore assist both buyers and sellers in obtaining fixed registration costs for their preferred properties.
- Even though ready reckoner rates in Karnataka are typically lower than their actual market values, they nonetheless provide potential buyers with a sense of the property’s projected cost.
- In Karnataka, Ready reckoner rates assist the government in raising money through taxes & stamp registration.
- Ready reckoner rates in Bangalore for various types of landed properties, including plots, flats, building floors, office properties, etc., are assessed by the state’s revenue department and sent to the government for approval.
Factors Affecting the Ready Reckoner Rates in Bangalore
As the ready reckoner rate is one of the important parameters while purchasing or selling properties, there are a few factors which affect these RR Rates.
Here are the factors affecting the Ready reckoner rates in Bangalore.
Step-By-Step Process To Calculate Ready Reckoner Rates in Bangalore Online
You can calculate Ready reckoner rates in Bangalore for any locality by visiting the government’s official portal known as Kaveri Online.
Step 1: Visit the official website of the Department of Stamps and Registration of the Karnataka Government.
Step 2: On the homepage go to the Know Your Property Evaluation option.
Step 3: Next page will appear, on that basic search and advanced search options will be shown.
Step 4: Select a basic search and fill in all the necessary details like your district details, Area name, Taluka, and Village name.
Step 5: Once all the information has been entered, select “Display Valuation” from the menu. The property valuation information will be displayed in table format.
You will need to enter more details, such as the Registration, District, and SRO Office when using the advanced Search option.
Ready Reckoner Rates in Bangalore for Different Localities
A reliable source for the current market values of a property is Ready Reckoner Rates in Bangalore. Buyers should confirm Bangalore’s ready reckoner rates before moving on with real estate investments.
Here is a list of Ready Reckoner rates in Bangalore for different localities.
| Localities in Bangalore | Ready Reckoner Rate (Rs/sq. meters) |
| B.M. Sri Nagar Cross Road | Rs 28,000 |
| Vani Vilas Market – D. Banumaiah Circle | Rs 32,000 |
| K.R. Circle to Ayurveda Hospital Circle | Rs 1,15,000 |
| RMC Circle to Highway Circle | Rs 32,600 |
| Banumaiah Circle to KR Circle | Rs 68,200 |
| Ayurveda Hospital to RMC Circle | Rs 49,100 |
| Kumbarakoppal Crossroads | Rs 9,600 |
| Kumbarakoppal South Side | Rs 13,000 |
| Srirampura First Stage | Rs 23,000 |
| Metagalli Main Road | Rs 18,300 |
| Ambedkar Colony | Rs 3,500 |
| Kumbarakoppal Main Road | Rs 1,29,000 |
| Kumbarakoppal Inner CrossRoads | Rs 9,900 |
| Kumbara Koppal Colony | Rs 6,500 |
| Gokulam Main Road | Rs 38,400 |
| Gokulam Cross Road | Rs 19,800 |
| Gokulam Third Stage | Rs 28,000 |
| Contour Road EWS | Rs 19,700 |
| Bogadi First & Second Stage | Rs 28,000 |
| Srirampura Second Stage | Rs 24,000 |
| Hale Ooru | Rs 8,500 |
| B.M. Sri Nagar Main Road | Rs 10,100 |
| Karakushala Nagar | Rs 5,400 |
| Gokulam First and Second Stage | Rs 25,000 |
| Gokulam Fourth Stage | Rs 20,000 |
| Karnataka Slum Development Board Houses | Rs 8,600 |
| Janatanagar | Rs 11,800 |
Also, check out the Best residential projects in Bangalore City in 2024
FAQs
| How can I check property value in Bangalore?
To check a property value in Bangalore you may visit the official website of revenue and stamp, then fill in all the required details and information, you will get the property value details. |
| What if the market value is less than the circle rate?
According to Section 56 (2)(x) under the Income Tax Act of 1961, the buyer will be charged on the difference if the market rate for the property is less than the circular rate value. |
| What if the agreement value is more than the market value?
Both the buyers and the sellers will be affected if the contract value is less than the actual market value. Suppose the discrepancy is greater than 5% between both the contract value and the actual market value. In that case, both the buyer and the seller are subject to taxation under various income tax legislation. |
| What affects property value?
The housing market, neighbourhood real estate trend, condition, age, location, and size of the property all have an impact on a home’s worth. |
