Hiked property guidance value to fetch extra Rs 840 crore

The State government, which has come out with draft upward revision of guidance value of immovable properties in the state, is expecting an additional revenue of Rs 840 crore, including Rs 614 crore from Bangalore urban district in the form of stamp and registration fee.

Revenue Minister V Srinivas Prasad, in a written reply to H D Revanna (JD-S) in the Legislative Assembly on Monday, said the increased stamp and registration fee could fetch an additional Rs 226 crore from 29 districts.

On an average, the increase is about 30 per cent.

The minister said the guidance value has been revised upwards in 25 districts and the process is going on in the remaining five districts.

The percentage of increase in draft guidance value in some of the districts is: Belgaum (40 pc), Gulbarga (42.75 pc), Chikmagalur (57 pc), Mysore (17.5 pc), Hassan (27.5 pc), Koppal (37 pc), Gadag  (42 pc), Udupi (27.5 pc), Uttara Kannada (37 pc) and Tumkur  (30 pc).

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