Guidance Value for Properties Revised

Published: 22nd September 2015 04:25 AM  |   Last Updated: 22nd September 2015 04:25 AM   |  A+A-

BENGALURU: The Department of Stamps and Registration has issued a draft notification regarding the guidance value for properties in Bengaluru Urban, Rural and Ramanagaram districts.

The notification issued on September 14 has also invited objections to the values announced in the notification. Residents are being given a 15-day window to file objections regarding the same. According to sources in the Department, the guidance values set by the Central Valuation Committee have been increased by a minimum of 10 per cent.

The guidance values were last revised in 2011 and the recent revision is based on the hike in property prices in the city during the period, sources said.

According to the preliminary guidance values, localities under the Gandhinagar district registrar’s office have attracted the maximum value, with guidance value along OTC Road set at Rs 30,007 per square feet. Similarly, guidance value along Raj Bhavan Road and Sankey Road stood at Rs 25,000 and Rs 22,000 per square feet respectively.

Under Shivajinagar district registrar’s office, guidance value was highest for Commercial Street at Rs 19,806 per square feet, followed by the stretch of M G Road between Kasturba Road and Trinity Circle at Rs 19,556. In Jayanagar limits, values were set between Rs 15,000 and Rs 19,400.

Objections

According to the draft notification, residents who wish to object to the values can mail the same to Inspector General of Registration and Commissioner of Stamps and Chief Controlling Revenue Authority, Kandaaya Bhavan, 8th floor, K G Road, Bangalore-1 or e-mail it to cvcobjections2015@gmail.com.

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