Guidance value of properties being revised

The Stamps and Registration Department is in the process of revising the guidance values for properties across the State.

The annual exercise taken up by the department will go on for another two months, said Adoni Syed Saleem, Inspector General of Registration and Commissioner of Stamps.
The estimated revenue for the year 2013-14 for the State is about Rs 6,100 crore, he said. Last year, the revenue generated for the State was around Rs 5,260 crore, out of which about Rs 3,200 crore was generated from Bangalore alone, he said. Usually, about 60-70 per cent of the total revenue generated is from the City.

Saleem said he was not aware of the recent Industrial Township status granted to Electronic City and hence could not speculate on how that would affect the revision of guidance value there. As of now, the survey is being conducted in all the areas.

Officials who had visited Maharashtra found that State practising a better model.

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