NEW REVISED PROPERTY VALUES FOR REGISTRATION FROM 12-08-2013 AT BANGALORE

THE DEPARTMENT OF STAMPS AND REGISTRATION HAS FINALLY ANNOUNCED THAT THE NEW REVISED GUIDANCE VALUE FOR PROPERTIES WILL BE EFFECTIVE FROM 12-08-2013.

MARKET VALUE OR GUIDANCE VALUE OR CIRCLE RATES FOR THE REGISTRATION OF PROPERTIES IN BANGALORE

THE STAMPS AND REGISTRATION DEPARTMENT HAS PUBLISHED THE PROVISIONAL MARKET OR GUIDANCE VALUES ASSESSED BY THE CENTRAL VALUATION COMMITTEE AND HAS INVITED OBJECTIONS OR REPRESENTATIONS FROM THE PUBLIC BEFORE ENACTING THE PRICES.

THE INCREASE APPEARS TO BE IN THE RANGE OF 20% TO 30% ON AN AVERAGE IN THE BANGALORE URBAN AND RURAL DISTRICTS.  IN DEVELOPING TALUKS LIKE BANGALORE EAST, NORTH, ADDITIONAL NORTH AND DEVANAHALLY ZONES THE RISE APPEARS TO BE BETWEEN 0% TO 100%.

HIGH END APARTMENTS WITH AMENITIES WILL HAVE INCREASED VALUE FOR REGISTRATION DEPENDING UPON THE ELEMENTS OF AMENITIES, WHICH HAS BEEN CLASSIFIED INTO GROUPS.

IN ALL THE PROBABILITIES, THE STAMP DUTY WILL BE HIKED ONCE THE GENERAL ELECTIONS ARE OVER.

THE CATCH NOW IS GETTING A COMPUTER GENERATED FORM NO.9 AND FORM NO.11 FOR GRAMATHANA SITES.

BDA APPROVED LAYOUTS AND BMRDA APPROVED LAYOUTS WILL GET COMPUTER GENERATED FORM NO.9 AND FORM NO.11 AND GENUINE GRAMATHANA SITES WITH KANESHMARI NUMBER WILL ALSO GET THESE FORMS BUT OTHER PROPERTIES MIGHT FIND IT DIFFICULT TO GET THESE CERTIFICATES.