New guidance value in Bangalore

Q: Can anyone update me about the guidance value in Bangalore? From where can I find the information about the same.

Arunabha Gupta, Bangalore

13th August 2013

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Replies (18)

Which all localities are going to see a hike in the Guidance Value in Bangalore?

Chittranjan Pillai, Bangalore

7th April 2016

Comment

Localities in Bangalore where Guidance Values witnessed hike are a) Rs 14,158 Legacy Cataleya, Cunningham Road, b) Rs 10,312 Coles Road, c) Rs 12,904 South End Road, d) Rs 16,504 Avenue Main Road, e) Rs 12,077 Ballari Main Road (after Hebbal flyover) and f) Rs 22,380 UB Towers,Vittal Mallya Road

Rakesh, Bangalore

7th April 2016

Can anyone help with the ongoing guidance value in Jayanagar 4th Block and Indiranagar?

Hanif Laskar, Bangalore

28th March 2016

Comment

The latest guidance value in Jayanagar 4th block is Rs 16,300 per sqft and in Indiranagar the guidance value is Rs 14,300 per sqft.

Harsha Mahipal , Bangalore

28th March 2016

Hi All, I have read some where that there won't be any kind of hike in guidance value in Bengaluru till budget. Is this true?

Krishna M, Bangalore

3rd December 2015

Comment

Usually the government revises the guidance value in November. But this time the State government has decided not to increase the guidance value of properties in Bengaluru and the rest of Karnataka till the state Budget session.

Tejesh Kumar, Bangalore

3rd December 2015

Hey Guys!!! I heard that the government had issued a set of preliminary notifications, proposing a hike in guidance value in Gandhinagar, Jayanagar, Basavanagudi , Rajajinagar, Shivajinagar, Bengaluru Rural and Ramanagara registration areas. The increase in guidance value will be in between 10 % to 200% in some cases.

Sachin bhatt, Bangalore

3rd December 2015

When is the state revenue department planning to increase the guidance value and to what extend?

Krishna M, Bangalore

7th March 2016

It seems, the state government has decided to increase guidance value for properties by 10% to 30% to take care of revenue in the next fiscal and fix the huge shortage of revenue collection from the stamps and registration department. The state revenue department proposed an increase in guidance value of properties from April 1.

Priyaranjan Bhatt, Bangalore

7th March 2016

I have read that the property prices are expected to go up by an average of around 10% under the new guidance value. But, CREDAI has expressed dissatisfaction over the hike in guidance value in the city from April 1, 2016.

Sachin bhatt, Bangalore

11th March 2016

Hello Peeps!!! Updated news for you guys, Chief Minister Siddaramaiah, given his nod to an increase in the guidance value of properties. The real estate properties in and around Karnataka will cost more from April 1. :( :(

Tejesh Kumar, Bangalore

11th March 2016

Hello, recently I read something online that BBMP has increased the Guidance value by 20% for owned building and 25% for commercial buildings effective from April 1, 2016.

Rakesh, Bangalore

7th April 2016

O god not again :( :( What percentage of guidance value the government is planning to increase?

Diwakar Shetty,

10th September 2015

Comment

The government is planning to increase the guidance value of 10% and may even go up to 200% in some areas.

Tejesh Kumar, Bangalore

10th September 2015

What 200% hike in guidance value???? Do you think that is really too much

Diwakar Shetty,

10th September 2015

Yeah in some of the areas government planned to hike the guidance value upto 200% as there was a huge difference between the government rates and registered rates.

Tejesh Kumar, Bangalore

10th September 2015

Hi All,I read some where that the government has decided to revise its guidance value across the state this October. According to new rule, yearly revision of guidance values is necessary.

Tejesh Kumar, Bangalore

8th September 2015

Comment

What is the reason that they have decided to revise the guidance value every year??? Earlier it was revised once in three or four years

Diwakar Shetty,

10th September 2015

Yeah I agree with you @ Diwakar... But the yearly revision started from 2012 to bring the value up to at least 70% of the market value. Last time the values were revised in November 2014.

Tejesh Kumar, Bangalore

10th September 2015

How is the guidance value calculated in Bangalore? As per my knowledge the city has already seen a hike in guidance value.

Varun,

11th February 2015

Comment

Guidance Value is defined for two categories: land value (for land only) and composite value (for land and buildings, this includes construction cost and associated taxes for buildings).

The revised guidance values will still be less than half of what market values. As its known, Real Estate transactions have black money component involved. The revised guidance values will help reduce the black money component in the real estate transactions.

Karthik Deshmukh, Bangalore

11th February 2015

Property buyers in Bengaluru have to pay 6.6% of a property's rate to the government. That is 5.60% stamp duty including surcharge and cess and a 1% registration fee. :( :(

Priyaranjan Bhatt, Bangalore

13th November 2014

Comment

While the government claims that the increase in guidance value will lead to a reduction of black market transactions and an increase in the revenue, builders and buyers have cribbed about the increased values, due to the increased charges that will have to be paid for registering a property.

Once it is proposed, the public will be given about 15 days to file any objections before finalizing the new guidance values.

Abhijit More, Bangalore

27th October 2014

Comment

Guidance value is the basic rate for fixing stamp duty and other charges to register an immovable asset. The government has already raised the guidance value in Bangalore. Not just owner even developers also seem to be facing the heat.

Krupa Vasavaraj, Bangalore

13th November 2014

Recently I read in some newspaper that thet government is planning to increase the guidance value in Bangalore. Can anyone explain the same

Aakash N, Bangalore

27th October 2014

Comment

Yes Aakash, Its true.... The Government of Karnataka announced a proposed revision to the guidance value of properties in Bangalore for the fiscal year 2014-15 on 15th October this year. As per the proposed revision, property prices in the city have gone up by about 15-25 per cent in various localities compared to those of last year (2013-14).

Rakesh, Bangalore

27th October 2014

The guidance value of several important areas have witnessed an increase of at least Rs 100 per sq. ft. Other important areas such as Jayanagar, Yeshwantapur, BTM Layout and Basavanagudi have also seen an increase in guidance value.

Krupa Vasavaraj, Bangalore

27th October 2014

Can property be registered on guidance value?

Govinda,

27th November 2013

Comment

The property can be registered at either the guidance value or market value. However, in case of registration on market value you eventually end up paying higher stamp duty

Harsha Mahipal , Bangalore

27th November 2013

I have a question that if I am registering a property at the time of completion. Will I be charged the stamp duty based on the new guidance value. Need experts advice.

Govinda,

3rd September 2013

Comment

Usually buyers register the property after the completion of the project, just when they are ready to be occupied. So even if the agreement is old the stamp duty will be increased as it will be based on the new guidance value. Most builders could even demand the difference amount from the buyer.

Harsha Mahipal , Bangalore

3rd September 2013

I am searching for Guidance value in Whitefield but not getting any information? Can anyone please provide?

Adnan, Bangalore

3rd September 2013

Comment

the market value here is Rs 9,000 psqft and the guidance value quotes Rs 3,500- 5,500 psqft. Earlier the guidance value ranged around Rs 3,500 psqft.

Harsha Mahipal , Bangalore

3rd September 2013

After examining the present market rates and the old values, the new guidance value have been derived. The rates have been hiked, as it has been two years since the guidance values were revised.

Harsha Mahipal , Bangalore

3rd September 2013

The guidance value in the urban areas has increased from 20-60% and only in a few cases like in outskirts of Bangalore they have doubled (100% increase). In the central business district (CBD areas) there has been a 50% increase in the guidance value.

Krupa Vasavaraj, Bangalore

3rd September 2013

UB Towers stationed at Vittal Mallya Road have been pegged in the range Rs 20150- Rs 20350 per sq ft, and is considered to be the most high-priced property in the city while the properties on Bangalore outskirts cost around 1% of that.

Harsha Mahipal , Bangalore

14th August 2013

Comment

I read that the new guidance value will also include the registration of villas and houses in gated communities( for the first time), that measures between Rs 500-Rs 1000 per sq ft.

Krupa Vasavaraj, Bangalore

14th August 2013

What is the current guidance value rates in UB Towers, Vittal Mallya Road and Raj Bhavan?

Kailesh, Bangalore

28th March 2016

The current guidance value rates per sqft in UB Towers is Rs 20,350, Vittal Mallya Road is Rs 12,600 and Raj Bhavan is Rs 19,250.

Harsha Mahipal , Bangalore

28th March 2016

The revised guidance value is expected to mop up an additional revenue of Rs 840 crore for the government in the present year. A new set of rules for guidance value will come into play for the evaluation of gated communities and apartments, as an attempt to shore up the revenue collection process. The revision is designed depending on the construction type, facilities offered and the strategic position of the apartments, gated communities and villas.

Rakesh, Bangalore

14th August 2013

Comment

In accordance to the new market based guidance value, the land cost has rolled out by 30%-50% in 9 out of 10 parts of the city, while the remaining areas have been affected by a 100% increase in land prices.

Rakesh, Bangalore

14th August 2013

The new policy is aimed to accelerate the revenue collection and curb the growth of black money in property transactions.

Rakesh, Bangalore

14th August 2013

The revised guidance value is expected to give the government a push to reach the stupendous revenue target of Rs 6500 crore in the fiscal year.

Rakesh, Bangalore

14th August 2013

Under the new system, villas and duplex houses in the south-eastern parts of the city have a guidance value ranging between Rs 500- Rs 1000 per sq ft.
The farmlands on the outskirts of the city under the new policy will be pegged at Rs 7 crore- Rs 9.9 crore acre.

Rakesh, Bangalore

14th August 2013

How real estate is influenced by guidance value rates?

Hanif Laskar, Bangalore

13th August 2013

Comment

Guidance value can be set at the floor price, which is fixed by the state government. Taking into account the market condition, quality and existing demand, builders can charge premium on that fair value. Hence, the prices prevailing in the market will be set at a higher altitude than the benchmark set for guidance value. However, if the set benchmark is more and increases with the passing years, the market price cited by the developers will also witness an escalating path.

Balaji, Bangalore

13th August 2013

For instance, the new guidance value for Karnataka will be implemented for 25 districts from August 12. In order to avoid the impact of the increased rates, builders in Bangalore have contributed towards property registrations worth Rs 1200 crore in the last few months. The revised guidance value for Bangalore will include registration fee of 1% and stamp duty of 5% of the total property registration value.

Balaji, Bangalore

13th August 2013

Is guidance value anywhere linked with carpet area?

Shiva Reddy, Bangalore

13th August 2013

Comment

Guidance value is not linked with the carpet area, instead with the Built up area of the property. Hence, if the guidance value for a property is rated at 2000 per sq ft and the developer is selling it at the same price, it is probably an act of hoax, since the developer only spills the beans related to super built up area rate and not the built up area price. The built up area rate is generally higher, hence the rate charged by the builder is always few notches up, if calculated.

Few crucial terms to take into consideration:

Built up area- Carpet area+doors and walls area

Carpet area- Net usable area of the property

Super built up area- common facilities + built-up area

Rakesh, Bangalore

13th August 2013

There is a good discussion going on, you can click on the link to get update information about Guidance Value in Bangalore

Pratap, Bangalore

13th August 2013

Comment

Whenever there is an acute necessity for price revision, the government turns the table and updates the guidance value from time to time. A crucial point to take into consideration is that the registration cost and stamp duty, chip in by the real estate buyer, should be ideally, more than the guidance value of the property.

Gajendra V, Bangalore

13th August 2013

The new guidance value was suppose to get hiked on 12th August. The guidance value for an area can be located:

1) on the Registration and Stamp Duty Department website

2) at the office of Sub-Registrar

3) Using RTI application

4) Via newspapers

Gajendra V, Bangalore

13th August 2013

Comment

Is guidance value applicable for rental properties?

Hanif Laskar, Bangalore

13th August 2013

For buying of properties, guidance value is charged, however, it is not applicable in case of rentals. However, if the government proposes guidance value for rentals, it would generate a possible idea which area is in demand and what is the premium range homeowners are asking over the defined rental rates of the government.

Pratap, Bangalore

13th August 2013