Draft on hike of guidance value out

Property prices in the City are likely to go up if the Stamp and Registration Department of Karnataka has its way.

The department has proposed an increase from 20 per cent to 80 in the provisional list of guidance value of the properties in the City in the form of extraordinary gazzette.

While putting the list of proposed hike in the guidance value on its website, the department has invited objections from the citizens.

Objections sought

Citizens can send their objections/suggestions within 15 days from the date of publication of the proposed draft to the Secretary, Central Valuation Committee to
[e-mail].

For more details, citizens can log on to the website www.karunadu.gov.in/karigr.

Proposed increase

Area    Old rate*    New rate*
MG Road, Kasturba Road  to
Trinity Circle Prestige Meridian        10,000        15,200
Jayanagar, Ashoka Pillar Road
up to RV Road        5,500        8,000
Jayanagar Ashoka Pillar Road
to Madhavan Park        6,500        9,000
Other Main Roads Jayanagar
First Block        4,200        7,000
*per sq ft