JOIN USThe Stamps and Registration department is likely to publish a draft notification listing out the revised guidance values of properties in Bangalore Urban, Bangalore rural and Ramanagara districts in the next three days.
As many as 15 days will be provided for the public to file objections and suggestions. The guidance value in 90 per cent of Bangalore is likely to be increased by 30 to 50 per cent and in certain pockets by 100 per cent, official sources said.
The new guidance value will come into effect from August 1. The government has already increased guidance value by around 40 per cent in 20 districts. As stamp duty will have to be paid on guidance value, property registration will start costing more come August.
Additional revenue
It is anticipated that the revision of guidance value will fetch the government an additional revenue of Rs 1,000 crore this fiscal.
Guidance value will also soon be revised in the districts of Gadag, Kolar, Dakshina Kannada, Kodagu, Chikmagalur, Dharwad and Bellary.
Chief Minister Siddaramaiah has retained stamp duty at five per cent in his budget proposals for 2013-14.