{"id":46004,"date":"2021-12-29T15:23:39","date_gmt":"2021-12-29T09:53:39","guid":{"rendered":"https:\/\/www.squareyards.com\/blog\/?p=46004"},"modified":"2022-04-27T14:35:30","modified_gmt":"2022-04-27T09:05:30","slug":"annual-statement-rate-gly","status":"publish","type":"post","link":"https:\/\/www.squareyards.com\/blog\/annual-statement-rate-gly","title":{"rendered":"What is Annual Statement Rate"},"content":{"rendered":"\n<p class=\"has-text-align-justify\"><span style=\"font-weight: 400;\">Annual Statement Rate is a measure devised by the government to determine the property rates in different regions of the country which are based on various market aspects. With the location change, the name of the Annual Statement Rate also changes. For instance, in Delhi, it is known as Circle Rates and in Mumbai, it is known as Ready Reckoner Rate.<\/span><\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2>Table of contents<\/h2><ul><li><a href=\"#h-key-features-of-annual-statement-rate\" data-level=\"2\">Key Features of Annual Statement Rate<\/a><\/li><li><a href=\"#h-effect-of-annual-statement-rate-on-real-estate-transactions\" data-level=\"2\">Effect of Annual Statement Rate on Real Estate Transactions<\/a><\/li><li><a href=\"#h-various-names-of-annual-statement-rate-based-on-areas\" data-level=\"2\">Various Names of Annual Statement Rate Based on Areas<\/a><\/li><li><a href=\"#h-how-to-find-the-annual-statement-rates\" data-level=\"2\">How To Find the Annual Statement Rates?<\/a><\/li><li><a href=\"#h-important-real-estate-terms-you-should-know\" data-level=\"2\">Important Real estate Terms You Should Know<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-features-of-annual-statement-rate\">Key Features of Annual Statement Rate<\/h2>\n\n\n\n<p class=\"has-text-align-justify\"><span style=\"font-weight: 400;\">Here are a few aspects of Annual Statement Rates that every buyer should know about:<\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Usually, the annual statement rate of a property is less than its market value present in a particular region.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The calculation of the minimum registration charges and stamp duty is done on the basis of the property\u2019s Annual Statement Rate in an area.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Annual Statement Rate of a property gets revised timely and the government tries to make it as close to the market rate of the property as possible.<\/span><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-effect-of-annual-statement-rate-on-real-estate-transactions\">Effect of Annual Statement Rate on Real Estate Transactions<\/h2>\n\n\n\n<p class=\"has-text-align-justify\"><span style=\"font-weight: 400;\">For specifying the minimum rates at which a property can be sold, the annual statement rates are used but this does not put any restriction on the maximum rates at which a property can be sold. With this, there is a gap created between the annual statement rates and market rates. In a particular locality, majorly the property transactions happen according to the market rates of that area and the stamp duty and registration charges are also formulated based on these rates. Hence, the difference between the annual statement rates and market rates leads to revenue loss for the government.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"has-text-align-justify\"><span style=\"font-weight: 400;\">In case the Annual Statement Rates are higher than the market rates of an area, the registration charges and stamp duty is calculated on the ASR. For homebuyers, a high annual statement rate is a turn down for registering their properties. But with the timely revision of Annual Statement Rates, they can be brought closer to the market rates of an area. This will lead to better transparency in real estate transactions and will also not lead to loss of revenue for the government.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-various-names-of-annual-statement-rate-based-on-areas\">Various Names of Annual Statement Rate Based on Areas<\/h2>\n\n\n\n<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jantri Rates in Gujarat<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Guideline Rate in Kolkata and Chennai<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Circle Rate in Delhi and Bhubaneshwar<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ready Reckoner Rate in Mumbai<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Guidance Value in Hyderabad and Bangalore<\/span><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-find-the-annual-statement-rates\">How To Find the Annual Statement Rates?<\/h2>\n\n\n\n<p class=\"has-text-align-justify\"><span style=\"font-weight: 400;\">To find the Annual Statement Rates of a particular area, you need to visit the official websites of the particular state government because the government keeps on modifying the annual statement rates timely. For instance, if you need to check the ASR or as called in Mumbai the ready reckoner rates, you need to visit the official website of IGR Maharashtra.<\/span>\\<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-important-real-estate-terms-you-should-know\">Important Real estate Terms You Should Know<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Fixed Rate Home Loan<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/fixed-interest-rate-home-loan-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is a Fixed Rate Home Loan<\/a><\/td><\/tr><tr><td>Written Down Value<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/written-down-value-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Written Down Value<\/a><\/td><\/tr><tr><td>Crowdfunding<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/what-is-crowdfunding-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Crowdfunding<\/a><\/td><\/tr><tr><td>National Building Codes<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/national-building-codes-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What are National Building Codes<\/a><\/td><\/tr><tr><td>Building Bye-Laws<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/building-bye-law-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Building Bye-Laws<\/a><\/td><\/tr><tr><td>Construction Loan<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/what-is-construction-loan-for-home-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Construction Loan<\/a><\/td><\/tr><tr><td>Benami Property Transaction Act<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/benami-property-transaction-act-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Benami Property Transaction Act<\/a><\/td><\/tr><tr><td>Balloon Payment<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/what-is-balloon-payment-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Balloon Payment<\/a><\/td><\/tr><tr><td>Bare Shell and Warm Shell<\/td><td><a href=\"https:\/\/www.squareyards.com\/blog\/bare-shell-and-warm-shell-gly\" target=\"_blank\" rel=\"noreferrer noopener\">What is Bare Shell and Warm Shell<\/a><\/td><\/tr><tr><td>Capital Gains Tax<\/td><td><a aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.squareyards.com\/blog\/capital-gains-tax-ptax\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">Capital Gains Tax<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\">FAQs<\/h2>\n\n\n\t\t<section\t\tclass=\"sc_fs_faq sc_card    \"\n\t\t\t\t>\n\t\t\t\t<h2>What is the annual statement rate?<\/h2>\t\t\t\t<div>\n\t\t\t\t\t\t<div class=\"sc_fs_faq__content\">\n\t\t\t\t\n\n<p>Annual Statement Rate is a measure devised by the Government to determine the property rates in different regions of the country which are based on various market aspects.<\/p>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section\t\tclass=\"sc_fs_faq sc_card    \"\n\t\t\t\t>\n\t\t\t\t<h2>What is ASR in real estate?<\/h2>\t\t\t\t<div>\n\t\t\t\t\t\t<div class=\"sc_fs_faq__content\">\n\t\t\t\t\n\n<p>It is the minimum rate at which a property can be sold.<\/p>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section\t\tclass=\"sc_fs_faq sc_card    \"\n\t\t\t\t>\n\t\t\t\t<h2>How do I find out my government land rate?<\/h2>\t\t\t\t<div>\n\t\t\t\t\t\t<div class=\"sc_fs_faq__content\">\n\t\t\t\t\n\n<p>You need to visit the official government websites of the particular area.<\/p>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<\/section>\n\t\t\n<script type=\"application\/ld+json\">\n\t{\n\t\t\"@context\": \"https:\/\/schema.org\",\n\t\t\"@type\": \"FAQPage\",\n\t\t\"mainEntity\": [\n\t\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What is the annual statement rate?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": 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devised by the government to determine the property rates in different regions of the country which are based on various market aspects. With the location change, the name of the Annual Statement Rate also changes. For instance, in Delhi, it is known as Circle Rates and in Mumbai, it [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":46005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[216],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/46004"}],"collection":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/comments?post=46004"}],"version-history":[{"count":7,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/46004\/revisions"}],"predecessor-version":[{"id":57624,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/46004\/revisions\/57624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media\/46005"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media?parent=46004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/categories?post=46004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}