Guidance value in Bangalore

Q: What is guidance value in Bangalore?

Manohar,

11th June 2013

Legal in Bangalore

properties in bangalore

apartments in bangalore

guidance value

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Replies (27)

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

Hi All, 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

Some more examples are UB Towers on Vittal Mallya road being the costliest property of the city at Rs 20,446 rate per sqft as per government records, the land prices on the road is approximately Rs 14,000/sqft and Rs 15,000/sqft on Lavelle Road.

The selling price is not more than 12,000/sqft in this locality where as Prestige Ozone is priced around Rs 15,000/sqft. Similarly, a luxurious villa project is being sold for around Rs 6,000/sqft, while the guidance value is Rs 10,000/sqft.

Sachin bhatt, Bangalore

2nd October 2015

Comment

It seems registration department undervalued few residential projects in Bangalore. Any idea which are those properties?

Sebestiana Firdos, Bangalore

1st October 2015

Comment

Prestige Kingfisher Towers on Kasturbha Cross road, Van Gogh's Gardens, on the same lane and 909 Lavelle on Residency Road are some of the properties the registration department undervalued.

Anusha, Bangalore

1st October 2015

The residential units at Prestige Kingfisher Towers were booked for more than Rs 25,000 per sqft. But when the registration department did a valuation of the property, in the final stages of construction, has pegged the price of the property at Rs 12,000-12,211/sqft, which is way below the market price.

Tejesh Kumar, Bangalore

1st October 2015

Will there be any issue if I buy a property whose price is lower than the guidance value?

Sebestiana Firdos, Bangalore

3rd October 2015

In such cases where the property has been purchased at a lower rate than the guidance value, a buyer has to register the property at the government-fixed rate. :(

Anusha, Bangalore

3rd October 2015

I am in the verge of investing in Beguir Road. What is the guidance value going on in this area and how is the locality as a whole?

Diwakar Shetty,

23rd February 2015

Comment

@Diwakar, In 2013 the guidance value in Begur road was Rs 2000 which increased to rs 2600 in 2014. Begur is a prominent locality for investment in Bangalore, especially now that demand is increasing. However, supply of residential apartments is usually greater than the demand for it and that is why prices are cheaper here. The dominant property type is in the form of apartments, which constitute 60% of the total land property.

Anusha, Bangalore

23rd February 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

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,

8th 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

8th September 2015

Guidance value depends on the usage of land such as residential, commercial and industrial. Besides this, the properties situated adjacent to National and State Highways shall carry higher guidance value.

Tejesh Kumar, Bangalore

19th January 2015

Comment

Many property buyers have booked apartments or flat outskirt Bangalore when the guidance value in those areas were around Rs 500-Rs 1500 per sqft till 2012. But now the guidance values for apartments in these areas are anywhere between Rs 1500 and Rs 5,000 per sqft. I feel the hike in guidance value is going to hit the flat buyers.

Pratap, Bangalore

23rd November 2014

Comment

How much is the guidance value in areas like KR Puram, Whitefield and JP Nagar?

Eshaan Tandon, Bangalore

19th January 2015

The guidance Value in KR Puram in 2014 was Rs 1,750-3,000, the guidance Value in Whitefield in 2014 was 2,800-7,200 and the guidance Value in JP Nagar i n 2014 was 1,400-9,350

Sachin bhatt, Bangalore

19th January 2015

Can anyone help me out with the guidance value in Kudlu, near Electronics City and Sarjapura?

Afzal, Bangalore

23rd November 2014

Comment

As per my knowledge, the current guidance value for apartments (with mosaic/ceramic flooring) in Kudlu, near Electronics City, is Rs 2,100 per sqft compared to Rs 1,800 a few days ago. :( :(

In Sarjapura (Anekal taluk), the guidance value in some places was Rs 880 sqft. The market value of flats here is on the higher side so the guidance value has gone beyond Rs 1,000 mark in most areas of Sarjapura.

Anusha, Bangalore

23rd November 2014

Karnataka government has increased the guidance value in Bangalore. Can anyone elaborate the same?

Jacob, Bangalore

13th November 2014

Comment

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).

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

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

13th November 2014

Hi, I have a confusion... Is it possible to register a property on Guidance Value?

Neha Patel, Bangalore

30th May 2014

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

30th May 2014

Some effects of new guidance value are:

1)People will have to shell out more money for car parking space. Apartments with car parking was any how costly now they will be costlier now.

2) The guidance value does not affect ongoing constructions.

3) Now the owner cannot force the tenant to pay more rent suddenly and violate the contract agreement.

and 4) Government project wont get affected as it comes under necessity.

Venugopalan, Bangalore

17th September 2013

Comment

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

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

Has the new guidance value implemented in all the areas of Bangalore? Any update about it?

Arunabha Gupta, Bangalore

13th August 2013

Comment

The new guidance values have already been implemented in 25 districts of Karnataka

Yogendra, Bangalore

13th August 2013

Officials of Registration and Commissioner of Stamps further corroborate that the revision was on thin ice since more than 50% of the revenue for the Department of Stamps and Registration punch in from registration fee (1%) along with surcharge/stamp/Cess fee (6.65-6.75%). Sources also confirm that the department has stacked up around 5265 crore during the tenure 2012-13 and intends to raise the bar by accomplishing a target of rs 6500 crore for the present financial year 2013.

Harsha Mahipal , Bangalore

6th August 2013

Comment

According to potential sellers and real estate developers, hike in guidance value is a matter of great consideration while selling the property. Hike in the guidance value is likely to discourage the sellers to a great extent. To add to it, the big developers and builders are generally at the helm for the hike in market rates, henceforth the small builders suffer huge losses. Hence, with the surge in guidance value, the real estate market of the city may take a dip significantly.

Murali Krishnan, Bangalore

26th July 2013

Comment

In accordance with the new system, registration of houses and villas in the gated neighborhoods has been included with the guidance value being permanent for the first time. Guidance value for such plots on the eastern part of the city (like K. K. Puram and Mahadevapura) south-eastern parts (like Sarjapur road and Hosur road) and northern parts (comprising of Yelahanka and Bellary road) run of between Rs 500- Rs 1000 per sq ft.

Yogendra, Bangalore

5th August 2013

What is the guidance value in Kundalahalli, , Nagawara, Doddanakundi and Hennur?

Sree Potamal, Bangalore

5th August 2013

The latest surge in the guidance value for an acre in Kacharakanahalli is glued at 9.9 crore, whereas in certain areas such as Kundalahalli, , Nagawara, Doddanakundi, Hennur and areas adjoining the Outer Ring Road and National Highway the revised value is fixed within the range 6.5-7 crore.

Yogendra, Bangalore

5th August 2013

Hike in guidance value will leave its impact on five districts under BBMP limits namely- Rajajinagar, Jayanagar, Basavanagudi, Gandhinagar and Shivajinagar. Around 42 sub-registrar offices are present under these districts. However, beefing up of the guidance value is not consistent and is unaltered in Magadi Road, Kengeri, Sunkadakatte and certain areas of Bangalore West.

Arunabha Gupta, Bangalore

24th July 2013

Comment

How this guidance value going to impact the real estate?

Manohar,

24th July 2013

The revised guidance value is likely to leave its mark on the realty market and trigger the revenue of the State significantly in the long run. The revise structure will aid the government to generate more revenue via stamp and registration fees from individual property owners. In addition to it, it will jack up the compensation which property owners are entitled.

Arunabha Gupta, Bangalore

26th July 2013

Government officials further confirm that the revised guidance value is likely to taper the registration value and market rate of the properties. The realty sector in Karnataka has already been racked up with economic slowdown, poor output of the software sector and currency crisis. The revised guidance value will inevitably put more financial stress on the property buyers, thereby creating an adverse effect on the sale of the residential plots.

Arunabha Gupta, Bangalore

26th July 2013

Ater the new guidance values came into effect, the realty market has slowed down. In an effort to achieve an equilibrium between market value and guidance value.

Madhav Deb, Bangalore

17th September 2013

The Karnataka government has proposed an upward revision of the guidance value of real estate properties to accumulate a sum of 840 crore. The hike will be done by increasing the stamp duty and registration fee charged for listing properties in the city.

Murali Krishnan, Bangalore

24th July 2013

Comment

The proposed hike is likely to mobilize the resources and aid the government to implement its Rs 1 per kg rice, that would require a sum of Rs 4500 crore. According to government officials, the guidance value has been revised on an average of 30% in 25 districts.

Srinivas Rao , Bangalore

24th July 2013

As an attempt to maintain stability in the realty sector of the state, the stamp duty has been reduced to 5% from 6%, by the government. According to market reports, the target for revenue collection by the government has been set at Rs 6100 crore during the year 2013-14, via registration and stamps.

Manjunath, Bangalore

24th July 2013

Government officials further confirm that more than 226 crore is expected to garner from the remaining districts, since revenue from registration and stamps is one of the biggest sources of income for the nation.

Manjunath, Bangalore

24th July 2013

Guidance value has already been hiked in 20 districts and the rise in stamps and registration duties to go up marginally

Vinu S,

10th July 2013

Comment

What is the reason for previous rejection of the scheme?

Manohar,

13th July 2013

With the hike in guidance value, sources said that the cost of residential sites has increased by 50%, commercial properties by 60% and industrial properties by 25% in the districts.

Sujan Mitra,

10th July 2013

Comment

Sources said that the target would be achievable with the revision of the guidance value. Some specific areas where guidance value was already higher than the market value could also be rationalised. But such areas are very small in number.

Sachin bhatt, Bangalore

13th June 2013

Comment

When are the guidance value in Bangalore going to get revised?

Neha Patel, Bangalore

10th July 2013

According to sources, Bangalore’s rates will be revised by August 1.

Niketan Verma, Bangalore

10th July 2013

Hey Niketan, they postponed the date and the revision is done on 12th August

Yogendra, Bangalore

14th August 2013

Inspector-General of Registration and Commissioner of Stamps Syed Adoni Saleem told that the department has collected Rs 5,260 crores during 2013-13 and Rs 6,100 crores is the target for this year.

Bhargav Dev, Bangalore

13th June 2013

Comment

Areas like Residency Road, Brigade Road and MG Road may not see any increase in guidance value of properties where sub- registrars have not witnessed many transactions.

Arunabha Gupta, Bangalore

13th June 2013

Comment

The stamps and registration department said that Hebbal, Yelahanka and neighbouring villages, Arkavathy Layout, Kempegowda Layout, Manyata Tech Park, Whitefield and surrounding villages are going to see a steeper hike on guidance value.

Partho Sen, Bangalore

12th June 2013

Comment

According to high officials from the stamps and registration department, the draft of the revision will be submitted to the government in August. After the cabinet gives a nod, the revised values are likely to be implemented from October 2013.

vin, Bangalore

12th June 2013

Comment

The stamps and registration department is planning to revise the guidance value of properties which may increase by 75 percent to 80 percent in norther and easter parts of the city.

Srinivas Rao , Bangalore

12th June 2013

Comment

What percentage the stamps and registration department is planning to revise?

Dharmesh Shukla, Bangalore

11th June 2013

Comment

Guidance Value is the minimum value fixed by Govt. for the property in respective area. The registration cannot be done on a value less than Guidance Value. 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).

Manjunath, Bangalore

11th June 2013

Comment