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Updates and information about new guidance value in Bangalore.

Property buyers in Bengaluru have to pay 6.6% of a property's rate to the government. That is 5.60% stamp duty including surcharge and cess and a 1% registration fee. The guidance value of several important areas have witnessed an increase of at least Rs 100 per sq. ft. Other important areas such as Jayanagar, Yeshwantapur, BTM Layout and Basavanagudi have also seen an increase in guidance value.

The Government of Karnataka announced a proposed revision to the guidance value of properties in Bangalore for the fiscal year 2014-15 on 15th October this year. As per the proposed revision, property prices in the city have gone up by about 15-25 per cent in various localities compared to those of last year (2013-14).

A quiet hike on guidance value by 40%-50% on official land cost by the government of Karnataka would make buying property costlier. Following suite Bangalore's rates will be revised by August 1.

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