For, the department has proposed downward revision of the value of apartments located on 9th Main Road (from Kuchalamba Choultry to Cosmopolitan Club) in Jayanagar III Block. The department has proposed Rs 4,310 per sq ft, down from the existing Rs 4,950 per sqft.
However, the land value has been increased from Rs 6,500 per sqft to Rs 9,000 per sqft in the area. In many other parts of Jayanagar, increase in guidance value is only marginal. The market value of apartments in the area is between Rs 5,000 and Rs 8,000 per sqft.
Besides, the notification appears to be incomplete as it has not mentioned the value apartments (in terms of guidance value per sq ft) in many areas on the outskirts of Bangalore.
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