What is the new guidance value for residential appartments in Horamavu, Bangalore?

Guidance value refers to the minimum prices set by the government of the state for a particular road or area. Properties in these areas cannot be registered under this guidance value. The income tax department uses this guidance value to calculate capital gains tax. The guidance value is decided by a committee formed by the Inspector General of Registrar (IGR). The previous guidance values for the city of Bangalore were laid out during the year 2013-14. A guidance value does not however reflect the actual market value of properties in the area, as the market value may be higher or lower than the guidance value.

The Government of Karnataka announced a proposed revision to the guidance value of properties in Bangalore for the fiscal year 2014-15, which came into effect from 14th November. As per the proposed revision, property prices in the city have gone up at least by about 15-25 per cent in various localities compared to those of last year (2013-14). For the first time, the guidance value in Bengaluru hit Rs 20,000 per sq. ft in different locations.