dear all,
i heard from a few sources that the guidance value is set to increase up to 30 % again effective from 1st AUG 2014.does any body know the truth.if it is increased again definitely it will affect both buyers and builders alike.
guidance value increase
Re: guidance value increase
Govt is thinking to revise the Guidance value every year here onwards. Due to Parliamentary election, it was delayed some time back.
Govt is in bad need of revenue sources. Hiking guidance value as per the market condition is a genuine option. As of now, buyer is
paying only a smaller percentage legally(registration value) and major percentage in the form of cash(unaccounted money) even
though his earnings are genuine(mainly salary class).
Even though you are thinking it may affect(burden) the buyer/seller, but in reality its is going to normalize the inflated real estate prices
over a period of time and reduce the gap of the guidance (registration) value and the unaccounted black money ratio.
Govt is in bad need of revenue sources. Hiking guidance value as per the market condition is a genuine option. As of now, buyer is
paying only a smaller percentage legally(registration value) and major percentage in the form of cash(unaccounted money) even
though his earnings are genuine(mainly salary class).
Even though you are thinking it may affect(burden) the buyer/seller, but in reality its is going to normalize the inflated real estate prices
over a period of time and reduce the gap of the guidance (registration) value and the unaccounted black money ratio.