Belgaum News: In September 2023, the City Corporation of Belgaum released a notification that revised property tax rates will be implemented based on Ready Reckoner Prices plus there will be a hike of 3% in taxes.
The revised tax is now implemented and the residents of Belgaum have been asked to pay the taxes on time, although their site is not working and is put on hold till further update.
Belgaum City Corporation Site: https://belagavicitycorp.org/
But the question is what are the Ready Reckoner Prices? There are a lot of people in Belgaum who do not even know what the new tax is all about.
What are Ready Reckoner Prices in Belgaum
The Ready Reckoner Prices or rates are the minimum valuation of the property of a particular area set by the state government. It is also known as circle value or guidance value.
This reflects the fair value of the property based on its location, size, amenities, condition, and other things.
One thing you need to note here is that it sets the minimum value of a property while there is no maximum limit. Setting a minimum limit assures that if a person sells their property to someone, he/she will get at least this fair value based on the rate set by the government.
Benefits of Ready Reckoner Prices in Belgaum
It is beneficial for the government as it serves as a benchmark for calculating various charges, taxes, fees, stamp duty, and registration fees. Before the Ready Reckoner rates, all the fees, and charges were calculated based on market rates.
Sometimes, there is a huge difference between the market rate and the actual circle rate of the property, which leads to a loss to the government.
Now, the property rates will be calculated based on a set rate, the profits of the government will increase.
Also, the residents will get a fair value of their property. The property rates in many areas in Belgaum have already gone up after the implementation of Ready Reckoner Prices which is good for the property owners.
What are the Revised Property Rates in Belgaum Based on Ready Reckoner
The new rates are not yet updated by the City Corporation of Belgaum. These are the Ready Reckoner rates released in 2019 for some areas of Belgaum.
| Area | Residential per Sq Mtr | Commercial per Sq Mtr | Apartments |
| Angol Extn C Scheme | 19600 | ||
| Angol Adarsh Nagar | 17500 | ||
| Angol Bhayga Nagar, Chidmabar Nagar, Chennamma Nagar | 19800 | ||
| Angol Harimandir Area | 11300 | ||
| Anatshayan Galli | 19400 | ||
| Ansurkar Galli | 15100 | ||
| Bhadkal Galli | 15300 | ||
| Bapat Gali | 17100 | ||
| Bhendi Bazar | 33900 | ||
| Bhovi Galli | 11500 | ||
| Belagavi Bogarves | 75800 | ||
| Chavat Galli | 14600 | ||
| Chougule Wadi | 12500 | ||
| Chennamma Circle to Hospital end. Civil Hospital road | 41600 | ||
| Club Road | 56100 | ||
| College road | 72000 | ||
| Deshpande Galli | 26100 | ||
| Dharwad Road | 35000 | ||
| Fort Road | 30000 | ||
| Ganpat Galli | 65000 | ||
| Govaves | 15400 | 21300 | |
| Godsewadi | 19800 | 27800 | |
| Goods Shed Road | 15800 | ||
| Guru Prasad Colony | 9400 | ||
| Hanuman Nagar, Kuvempu Nagar | 19800 | ||
| Hulbatte Colony | 18700 | 28000 | |
| Jadhav Nagar | 22700 | ||
| Kadolkar Galli | 80000 | ||
| Kapileshwar Colony | 18800 | 30000 | |
| Kelkar Bag | 28100 | ||
| Khade Bazar | 97200 | ||
| Kirloskar Road | 85600 | ||
| Laxmi Tekdi | 20500 | ||
| Mahadwar Road | 15800 | ||
| Mahantesh Nagar, Mal Maruti | 15100 | ||
| Shri Nagar | 18000 | 24000 | |
| Anjaneya Nagar | 17100 | 24000 | |
| ShivBasav Nagar near Mal Maruti | 21100 | 34000 | |
| Mandoli Road | 17600 | ||
| Maratha Colony | 22700 | ||
| Market | 49700 | ||
| Maruti Galli | 82500 | ||
| Nanawadi | 26250 | 36750 | |
| Nargundkar Bhave Chowk | 56700 | ||
| Narvekar Galli | 22700 | ||
| Nehru Nagar | 23200 | ||
| Gandhi Nagar | 10500 | ||
| Old PB Road | 35000 | 58000 | |
| Pangul Galli | 20000 | ||
| South Telegraph Road | 19000 | ||
| Market yard, Kumaraswamy layout, | 21400 | 30000 | |
| Ramdev Galli | 83500 | ||
| Ramlingkhind Galli | 30300 | ||
| Chennamma Circle to Rayanna Circle | 28500 | 40000 | |
| Raviwar Peth | 75300 | ||
| SPM Road | 27000 | 55100 | |
| Sadashiv Nagar | 19000 | ||
| Vishveswaraya Nagar | 20000 | ||
| Sahyadri Nagar | 11300 | ||
| Samadevi Galli | 57600 | ||
| Shaniwar Khoot | 39100 | ||
| Shastri nagar | 18500 | 27800 | |
| Shivaji Nagar | 18800 | ||
| TV Center, Hanuman Nagar, KH | 20700 | ||
| ShivBasav Nagar near Mal Maruti | 19000 | ||
| Tahshildar Galli | 17135 | ||
| Veerbhadra Nagar | 18700 | ||
| Vivekanad Colony | 25600 | ||
| Godse Nagar, Bhavani Nagar | 9400 | ||
| Cantonment Area | 25000 | 35000 | |
| Hindalga | 15900 | ||
| Hindwadi | 30500 | ||
| Hosur | 12100 | ||
| auto Nagar | 8000 | ||
| Kanbargi | 9200 | ||
| Ramteerth Nagar | 13900 | ||
| Bauxite road | 18000 | ||
| Khasbag | 12200 | ||
| Tilakwadi near Swimming pool, DP school | 45000 | 63000 | |
| Om Nagar | 9000 | ||
| Gandhi Nagar | 17000 | ||
| Shahpur | 17000 | ||
| Saraf Galli | 20900 | ||
| Vithaldev Galli | 20700 | ||
| Agarkar road | 37100 | ||
| Congress road | 37100 | ||
| Deshmukh road | 37100 | ||
| Khanapur road Tilakwadi | 39400 | ||
| MG road Tilakwadi | 23600 | ||
| Maratha Colony | 21300 | ||
| Tilakwadi Peth | 30000 | ||
| RPD college road | 23600 | ||
| Shanti Nagar BUDA | 16700 | ||
| Shivaji Colony | 31100 | ||
| Vaccine Depot Road | 33400 | ||
| Vadgaon | 15000 | ||
| Adarsha Central Mall | 59400 | ||
| Lotus Landmarks | 34000 | ||
| Skypark | 30000 | ||
| Emerald Apartments | 30100 | ||
| Seven Apartments | 32000 | ||
| Ganesh Bagh | 32700 | ||
| KHB Heritage | 33200 | ||
| Bella Vista | 35900 | ||
| Pearl Residency Sadashiv Nagar | 29500 |
It is seen that, after the revised rates, the property prices in Belgaum have increased by 10-30% and it is estimated that the price will increase more in the district of Belgaum.
How Can You Pay the Property Tax in Belgaum
To pay the new Ready reckoned property tax in Belgaum, you can visit the official site of the city corporation and pay from there, or can directly visit the office.
If you pay your property taxes by the end of this month, i.e., April, you’ll get a rebate of 5%.
Due to some technical issue, the official site is down and the residents have been asked to wait until further updates.
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