Guidance value goes up in Bangalore

The department of stamps and registration has revised the guidance value of properties in Bangalore Urban, Rural and Ramanagara districts.The department issued the preliminary notification on Saturday and called for objections, if any, to the revised guidance values.

A gazette notification has been issued to five registration districts,
which cover areas under 43 sub-registrar offices, in Gandhinagar, Shivajinagar, Rajajinagar, Jayanagar, and Basavanagudi.
The revision will be higher in newly added BBMP areas, where the value may go up by 60% to 120%.

There is a demand for land in Devanahalli airport area, Whitefield, and Electronics City in Bommanahalli.Guidance value will not increase in old Bangalore as there is no land available.

Department officials said copies of the preliminary notification would be made available on Monday and the objections have to be filed before August 1.

A central valuation committee would screen objections before the final notification is issued. The revised values would come into effect from August 15.