IGRS AP - Market Value of Land in 2024: Simply Explained

IGRS is known as the Inspector General of Registration and Stamps. It acts as a testimony and presents property facts and records in case conflicts or disputes arise. It also safeguards the old land and property records and collects profits or revenue through stamp duties, registration fees, transfer duties, etc.

IGRS AP market value has a lot of scope in carrying out the authentic procedures required for property-related services and providing the owners with an Encumbrance Certificate (EC), the essential document for the property. Check out this post for further details on IGRS AP and its essential services.

Understanding IGRS AP

Intending to provide legitimate documentation, IGRS is the first and largest running department in Andhra Pradbasic. It aims to ensure registered papers’ validity in all its services. In addition, the IGRS department collects the necessary registration fees and stamp duty during the land registration process.

When purchasing or selling real estate, purchasers and sellers must pay stamp duty to state governments. When registering property and ownership, if the owner of intangible property is transferred, an additional fee for the service will be levied.

In addition, IGRS AP offers several online services related when purchasing or selling real estate, market value, and registration for marris. In addition, IGRS AP has started an online port if the owner of intangible property is transferred to carry out and host most of its services to south Indian citizens, especially in Andhra Pradesh.

The portal also takes complaints from its citizens and actively solves them by responding to the protests against the opposition members using the particular software. Nevertheless, IGRS AP also facilitates keeping a track record of grievances filed. To file a complaint or to know more about IGRS AP, you can visit their official website here.

Critical Characteristics of IGRS AP

Most businesses got shut down due to covid. The government also tried its best to provide most of the required services. Covid affected most of the service-based and product-based industries. But the lockdown hasn’t forced IGRS AP has carried out services. Following are the critical characteristics of IGRS AP –

Acts & Rules – IGRS AP department follows all the policies and rules stated by the government. All of its services follow the acts passed in the eyes of the law. The department never breaks any rules. All of its services are designed in a way where they follow the actions. The registration act is one of the essential acts the IGRS AP follows. There are some primary rules for registration of the property and others.

Various Online Services – The online portal has an exclusive feature that displays all of its online services so that people can easily understand the department and its proceedings.

The services include GPA search, property registration and valuation, document verification and registration, marriage registration, notary services, chit funds, society and firm registration, partnership services, market value information, media releases, various listings of stamps, and their vendors, etc., among others.

Dashboards – The dashboard and design of the IGRS AP online portal are unique as every detail can be identified and seen easily without any issues. These dashboards are further improved to show the statistics stating the land details and its market value following the years.

Dashboard:

Dashboards also include the land performance based on the agricultural and non-agricultural land, respectively. These dashboards will lessen the workload for department officials in doing the mandatory work.

Fast-track Registration – With the IGRS Andhra Pradesh, the registration process can be done quickly and within no time. With this quick process, the customers can have unique and separate credentials that they can use to create their profile while registering their details with the department.

Users just need to provide proper and authentic documentation and the necessary and correct details for registration, such as name, email ID, user type, aadhaar number, mobile number, etc. With all these details, the process is a few clicks away.

Tenders – As the IGRS AP is run by the government of the Andhra Pradesh state, there are sometimes a few big projects, including the land and properties. All the business executives and ministers look forward to the tenders auctioned in the form of bids to get the property at the lowest price for commercial purposes.

The department accepts online tenders and invites only those agencies or organizations who are eligible, qualified, and reputed for undertaking digitization and scanning. This mainly looks for legacy records, including storing, indexing, and scanning documents.

Wide Range of Necessary Lists – Online official website of IGRS AP – market value also has the feature that it provides customers with various lists necessary for the registration process. The lists include stamp vendors, chit funds, societies and firms, sub-registrar offices, notary, integrated business transactions, citizenship charter, land market value, press releases, certified copies, SRO, etc.

Hassle-Free Services:

With these lists, the customers can easily find the nearest office and choose their service as per the requirement hassle-free and without any issues.

Appropriate Wayfinding – Nowadays, everything is conducted online, whether conducting interviews for freshers, online classes for school and college students, or tuition. Everyone is using online portals for their requirements. This demand for online work has given rise to the speedy and unique results of online web designing and other related jobs.

The online postal of IGRS AP has a convenient navigation feature with multiple dashboards and sections necessary for the department’s various online services. Customers can easily find their ways and navigate the theportalce per their needs and the services they choose. In addition, they can get the required information within no time.

Documentation Layouts – Designing and creating unique templates for everything has come in handy. IGRS AP also provides its customers various document templates/layouts for different documents and proofs. These templates include – a gift template, sale deed document template, lease/rent template, mortgage document layout, template for chit fund details, marriage registration template, etc., among other templates for various other requirements.

Frequently Answered Questions – Every online website or portal has a separate FAQ section, so the IGRS AP also provides its customers with one. In this section, users or customers can find out the answers. They have been looking for regarding their questions on property, stamps, will probation, and registration. (marriage or property/land, document, company/firm, society, etc.). The increasing market value of land in Andhra Pradesh state, etc., and more.

They can contact the department that has allocated a separate team for help and support on the online portal to solve the queries and issues raised by the customers or users.

Key Services Provided by IGRS AP

The web site of the IGRS AP gives a summary of all different kinds of property documents in order to make the process of registering real estate and transferring its details more accessible and accurate. Twebsitedone to facilitate the proceThe additionalonal department offers paper specially prepared that clients can use in the future to download the certificates in a specific format to be printed.

Various property transaction types are necessary for leases, mortgages, wills, sales, gifts, exchanges of legal representatives, and other such transactions. These prepared templates at the IGRS AP portal provide the user with simplicity and convenience. Will, Exchange, gift, Sale, mortgage, lease, and power of attorney deeds are among the templates/layouts available.

Leasing, mortgages, wills, sales, gifts, and exchanges of legal representation are only some of the examples of transactions involving property that need one or more of the various property transaction types. The user is provided with ease and convenience by these pre-made templates that can be found on the IGRS AP portal. In addition, various templates and styles are available, including ones for wills, exchanges, gifts, sales, mortgages, leases, and powers of attorney deeds.

Services:

Encumbrance Certificates – Providing the owners with their property land’s encumbrance certificates is an essential service of IGRS AP. The market value of the land thus has some importance as all the necessary details are mentioned in the certificate, thus officially declaring that some person has taken the land. The registration office provides all this information. EC acquires much importance when dealing with the property.

Property Deeds – One of the services of IGRS AP is that it maintains and provides the property deeds of the land owners. This includes all the details and documentation like Voter ID, Aadhaar card, Passport, PAN Card, etc., from both the parties, such as the seller and buyer of the property. These deeds are significant for the record; otherwise, any third party would come in the future and claim that the land is theirs’s, thus, bringing up the disputes.

Registering and recording property details – Recording the details of the property and reporting the land with all the necessary information is one of the primary services of the IGRS AP online portal. Anyone with the link and pertinent details can write and record their property details online and get the original copy of the necessary certificates.

Actively Taking up and Solving customer grievances – IGRS AP provides services similar to the integrated grievance redressal system. The portal also accepts and records complaints filed by individuals and actively solves them. Customers who have issues and want to file a complaint can contact the department.

Details on Collecting Stamp Duties and Fees – Collection of registration fees and stamp duties is one of the primary services of IGRS AP. While acquiring the property, the owner must pay some as a land registration fee and some as stamp duty.

More Services:

The certificate and documentation provide all the required information on the details of the small amount charged for the fee and duty collection. This helps people to understand that the department is genuine and worthy of providing the right services.

Downloads of various certificates – Other than the encumbrance certificates, IGRS AP also provides downloads of various other certificates like marriage certificates, etc. Other downloads include stamp duties, vendor lists, notary details, SRO, certificates of market value, company and society registration certificates, documents registered while entering the deed, integrated property transaction details, etc.

Information in the form of eBooks – IGRS AP provides ebook services in PDFs that are available for customers who visit the online portal at their convenience. The ebooks include the guides and details regarding the property, land registration, marriage registration, notary, media releases, public data entry services, etc. Following the guide, people can easily find out the process of each of the services.

Additionally, customers of the IGRS AP site can look for EC (encumbrance certificates) for any property listed in the sub-office registrar. Users on the IGRS AP platform may also validate EC numbers and obtain information on society registration. The official website of IGRS AP also has information on stamp merchant listings and agents of e-stamp franking.

Importance of Stamp Duty and Registration for Market Value in AP

The registration process is required to protect the ownership title and stop future inappropriate deceptions. The buyer or the owner must pay registration fees and stamp duty to IGRS AP to register for the property. The price ranges according to the estate’s value, location, and age.

All activities, including the acquisition and transfer of property ownership, should be recorded at the AP Registrar’s Office within six months of the estate’s deed being executed. This is done as per the Indian Registration Act under Section 17.

While registering an estate, a surcharge (also known as transfer duty) is also imposed along with the stamp duty and registration fee. For example, the AP Local Gram Panchayats Act, 1964’s stipulations govern the transfer duty’s imposition.

IGRS AP bases its calculations for property registration fees and collection of stamp duty on the property’s highest market value. In addition, all AP residents must pay a stamp duty of 5 percent on sale deeds, 1 percent on registration fees, and 1.5 percent on transfer duties.

Importance of Stamp Duty — Source: Image by Nattanan Kanchanaprat from Pixabay

EC is evidence that now the land owner has total control over the area. All the dealings involving the property are listed and included in this certificate. Any mortgages on the land are explicitly indicated on the encumbrance certificate.

Previously, a customer had to pick up the IGRS AP EC certificate at the registration office. Nevertheless, web registration and availability to search and access the Encumbrance Certificate are now possible in Andhra Pradesh, all thanks to the IGRS AP online portal.

The EC is a vital property document that provides crucial facts about the property. Checking the encumbrance certificate is critical when purchasing real estate. The certificate is legally binding evidence of the property’s possession and entitlement.

Purpose of an Encumbrance Certificate

The main objectives and aims of EC are as follows –

Important and mandatory document for property owners for loans and transactions involving ownership shreds of evidence.
To register land or a plot in the AP state, you need to have the encumbrance certificate by the other copies, such as the sale deed and agreement between the parties involved in registering with the land.
EC includes all the necessary details of the property in its actual state.
For upgrading the tax records, the property owner must produce a copy of the encumbrance certificate to the officer of Village Panchayat. This is valid only when the tax is not paid for three years or more.

What is Included in EC? Its Functions

An encumbrance certificate has mandatory importance when it comes to property; it has some crucial functions and includes the following information –

Name of the property owner
Property subtleties incorporation
Identified Exchange of the property referenced in a sequence
Required information on the mortgage or home loan is taken for the property if the land is bought on credit.
Delivery deed detailed report in case there is a common property among two or more parties.
Talented deeds are considered a blessing if the person has acquired the property as a gift from the loved ones.

Documentation Required for Property Registration and Stamps

You can register your land and property with IGRS AP provided with the following mentioned documentation –

Certificate of Encumbrance.
Some identity proofs from both seller and buyer (such as Driving license, Voter ID, Aadhaar Card, Passport, etc.).
The sale deed’s original copy was registered earlier.
Passport-size photographs of both parties.
Property Card procured from the department of City Survey.
Proof of Attachment of utility bills.
Form 60 duly attained and completed with address proofs of both buyer and seller.

Increasing Market Value of Land in AP

Andhra Pradesh is a state of new opportunities and increasing market value in land and property. Due to the high range of developed regions and greeny locations in south India, it has created quite a stance. The market value keeps increasing daily and provides opportunities for people to take up land there.

Increasing demand for land in AP resulted in raising the land prices, which is the government’s decision. This has impacted the villages around AP and new districts. All this gave rise to people registering their lands despite the high prices, increasing the workload for registration offices.

The IGRS AP has published a guide that details current rates and market value for agricultural and non-agricultural land, respectively. The manual mentions the minimum prices at which people can register their land with the government. This special rate is known as the “Market Value of Land in AP.”

Increasing Market Value of Land in AP — Source: Image by Nattanan Kanchanaprat from Pixabay

IGRS AP – Market Value and its role in measuring and controlling the impact of property

The Inspector-General of Registration and Stamps (IGRS) strives to keep the registration price for land as similar to commercial rates as is practical. Any funds or black monetary exchanges must be avoided to protect the revenue from the state exchequer, primarily derived from tax payments.

Several state and local governments have previously demanded that their urbanized corporations acquire real estate taxes depending on the market value rather than “providing a good understanding on unit area” based appraisals.

Understanding and determining the role of IGRS AP in measuring and controlling the impact of property on AP land is essential. Many activities are going on in the market unofficially without the consent and knowledge of the government. This leads to black marketing, which is not good.

Impact :

Every August, the AP state in India updates the value of the market obtained from non-agricultural land in its metropolitan regions. Every two years, the AP state’s market value gets updated for regional agricultural land. However, due to COVID-19’s adverse effects, the reassessment of property prices was halted.

Last year in August, the officials of the state government already made preparations to raise the market land values. Its execution, however, had to be delayed in response to public requests. As a result, the administration has now managed to remove this ban and raise land prices in the upcoming fiscal year.

IGRS AP will help minimize such unofficial transactions and actively state grievances by solving customer complaints.

Indicators of AP Land Market Value

A higher recommendation value predicts an increase in the estate’s market value in Andhra Pradesh, whereas a lesser guideline value predicts a decrease in the estate’s market value. It is vice-versa.

The value of the property land will immediately and directly change if the standard value changes. This is considered one of the AP state government’s most lucrative income sources. However, this does not indicate that now the market value in AP will keep increasing eternally.

Furthermore, the guiding figures aren’t randomly chosen or only determined by market necessity; instead, they are indeed the result of extensive study and evaluation of a wide range of factors, including traits like an area’s growth.

Market Value Certificate

The Citizen’s Charter section on the official website of the IGRS AP assists the user in learning more about the services offered by the sub-offices in the department of the registrar’s office. The Statement of Market Value certificate (in the form of a hard copy) is listed under item 7 of the number of system services accessible at the sub-attorney general’s office in the Charter, which is available in the form of a PDF file.

According to Section 3 (5) of the AP District Formation Act, the administration has expanded the districts to 26 depending on assembly constituencies.

In a newly established list of 13 district offices and surrounding rural and suburban areas, a particular modification of land and market values from a base of 5% to a total of 75% comes into place in AP, the state, in April 2022.

The registration and stamps department inspector general claims that an aggregate of 15% has now updated market values to 25% throughout all approved locations. Only in selected instances and in the recently discovered commercial zones were modifications made that reached a threshold of 75%, leading to a further increase in the market value.

How to Get the Certified Copy of EC on IGRS AP Online

You can get the certified copy of your registered encumbrance certificate online by following the below steps –

Visit the official website of IGRS AP
Click on the section – New Initiatives
Then on the Online CC option
Now, choose and mention the details in each sub-section (name of the district, location of SRO, year of registration, and fill in the captcha shown as given.
After entering the captcha, you can download the copy of the EC original.
You can take the printout of the original copy to maintain the record.

Final Words

By going through the above details on IGRS AP, and market value in the land of Andhra Pradesh, you might have got an idea about how IGRS works. For example, you can easily register for property and file complaints, if any. IGRS AP also acts as a grievance redressal system where it actively solves customer queries and issues related to property and land disputes.

The IGRS AP website also provides various services, including the ability to see and download encumbrance certificates, certified copies, certificates of market value, and calculate stamp fees, registration fees, and other user fees.

Additionally, various other services are available to people not associated with land registration services, including marriage registration, society and company registration, restricted house search, and a database of stamp suppliers.

Do share this article with your family and friends looking for market value for their property in Andhra Pradesh. Also, please feel free to share your feedback and suggestions at the end of this post in the comment section!!