What is Ready Reckoner Prices: A New Property Tax in Belgaum

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 is Ready Reckoner Prices: A New Property Tax in Belgaum

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.

AreaResidential per Sq MtrCommercial per Sq MtrApartments
Angol Extn C Scheme19600  
Angol Adarsh Nagar17500  
Angol Bhayga Nagar, Chidmabar Nagar, Chennamma Nagar19800  
Angol Harimandir Area11300  
Anatshayan Galli19400  
Ansurkar Galli15100  
Bhadkal Galli15300  
Bapat Gali17100  
Bhendi Bazar33900  
Bhovi Galli11500  
Belagavi Bogarves75800  
Chavat Galli14600  
Chougule Wadi12500  
Chennamma Circle to Hospital end. Civil Hospital road41600  
Club Road56100  
College road72000  
Deshpande Galli26100  
Dharwad Road35000  
Fort Road30000  
Ganpat Galli65000  
Goods Shed Road15800  
Guru Prasad Colony9400  
Hanuman Nagar, Kuvempu Nagar19800  
Hulbatte Colony1870028000 
Jadhav Nagar22700  
Kadolkar Galli80000  
Kapileshwar Colony1880030000 
Kelkar Bag28100  
Khade Bazar97200  
Kirloskar Road85600  
Laxmi Tekdi20500  
Mahadwar Road15800  
Mahantesh Nagar, Mal Maruti15100  
Shri Nagar1800024000 
Anjaneya Nagar1710024000 
ShivBasav Nagar near Mal Maruti2110034000 
Mandoli Road17600  
Maratha Colony22700  
Maruti Galli82500  
Nargundkar Bhave Chowk56700  
Narvekar Galli22700  
Nehru Nagar23200  
Gandhi Nagar10500  
Old PB Road3500058000 
Pangul Galli20000  
South Telegraph Road19000  
Market yard, Kumaraswamy layout,2140030000 
Ramdev Galli83500  
Ramlingkhind Galli30300  
Chennamma Circle to Rayanna Circle2850040000 
Raviwar Peth75300  
SPM Road2700055100 
Sadashiv Nagar19000  
Vishveswaraya Nagar20000  
Sahyadri Nagar11300  
Samadevi Galli57600  
Shaniwar Khoot39100  
Shastri nagar1850027800 
Shivaji Nagar18800  
TV Center, Hanuman Nagar, KH20700  
ShivBasav Nagar near Mal Maruti19000  
Tahshildar Galli17135  
Veerbhadra Nagar18700  
Vivekanad Colony25600  
Godse Nagar, Bhavani Nagar9400  
Cantonment Area2500035000 
auto Nagar8000  
Ramteerth Nagar13900  
Bauxite road18000  
Tilakwadi near Swimming pool, DP school4500063000 
Om Nagar9000  
Gandhi Nagar17000  
Saraf Galli20900  
Vithaldev Galli20700  
Agarkar road37100  
Congress road37100  
Deshmukh road37100  
Khanapur road Tilakwadi39400  
MG road Tilakwadi23600  
Maratha Colony21300  
Tilakwadi Peth30000  
RPD college road23600  
Shanti Nagar BUDA16700  
Shivaji Colony31100  
Vaccine Depot Road33400  
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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