Bengaluru, Feb. 28 -- State Govt. likely to increase guidance value by 15% to 20%

Purchasing property in Karnataka may soon become more expensive, with the State Government likely to increase the guidance value by 15% to 20% from Apr. 1. An official announcement, however, is still awaited.

The guidance value was last revised in October 2023, when it was increased by 30%. With another revision proposed after about two-and-a-half years, the Government is aiming to generate an additional Rs. 2,500 crore in annual revenue.

An increase in guidance value, minimum value fixed for property transactions, directly impacts market prices, as it serves as benchmark for valuation. It also leads to a rise in stamp duty and registration charges.

The ...