guidence value increased=> vijaya karnataka news paper info

[plotcrazy]

As expectedGovernment has officially made announcement w.r.t increase in guidence value across bangalore and outskirts. i am herewith attaching the news article in vijayakarnataka dated 2-7-2013.It is in kannada (.It would really helpfull if more info and inputs are shared .w.r.t above.

Thanks in advance
Regards
PC

[sun]

Today guidance value increase order was withdrawn by Govt. Current process to continue till further notice by Govt.

[pyaretaj]

Govt is considering increasing its Guidance Value (Official cost of land) by 40% to 50% from 1st August 2013. Bangalore property rates will be revised from next month onwards.

This revision will fetch the govt an additional revenue of Rs. 1,000 crores. In the upcoming budget, it is proposed to increase the stamps and registration duties marginally and it will bring Rs. 500 crores to its financial books.

With the hike in guidance value, the cost of residential sites will increase by 50% and Commercial sites by 60%.

[plotcrazy]

Govt to raise guidance value in B’lore on Aug 1
Manu Aiyappa TNN

Article source: http://epaper.timesofindia.com/Default/ ... wMode=HTML
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Bangalore: Buying property across Karnataka has become costlier as the government has quietly increased the guidance value (official cost of land) by 40-50% to fund its populist schemes. Bangalore’s rates will be revised by August 1, sources said.
“We have increased the guidance value in 20 districts,” said Inspector General of Registration and Commissioner of Stamps Syed Adoni Saleem.
This revision will fetch the government an additional revenue of Rs 1,000 crore. “In the upcoming budget, it is proposed to increase the stamps and registration duties marginally and it will bring Rs 500 crore to the coffers,” sources said.
Saleem said that the revised rates came into effect in nine districts, including Mysore and Dharwad, on June 1. The revision was effected in 11 more districts on July 1. Bangalore and four other districts will be covered in the final phase from August 1.
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.
The justification given is: the unprecedented growth of secondary cities and towns and the proportionate increase in the value of land.
The state government, through a gazette notification dated June 13, had directed the local valuation committees to increase the rates to fund its populist schemes. It gave instruction on details on the mode for valuation of the properties in gated communities and also those along state and national highways.
LOOKING AT GUIDANCE
Rise in guidance value varies between 40% and 50%
It had not been raised in past four years
Guidance value has already been hiked in 20 districts
Rise in stamps and registration duties to go up marginally
Schemes need money
We are looking at loan
waivers and increase in the subsidy for construction of houses under various schemes. All these require money, and for this we have to look at available options V Srinivas Prasad | REVENUE
MINISTER
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http://epaper.timesofindia.com/Default/ ... wMode=HTML
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Regards
PC

[sajayysahuu]

How to find out the current and increased guidance value for places like varthu, sarjapur, gunjur etc???.

[vini]

Check this link http://www.karunadu.gov.in/karigr/ or http://www.karunadu.gov.in/karigr/Banga ... tValue.rar

[kunalsd]

Hi Vini
Can you post the PDF files with New Guidance Values for Bangalore Urban?

Regards,
Kunal