1000 Crores more revenue to the State Government in the current financial year. The revised property gu

The Department of Stamps and Registration with a view to mop up more revenue has hiked the guidance value for properties in Bangalore and has notified the same recently calling for objections and suggestions from the general public. This new move is expected to bring in around Rs.1000 Crores more revenue to the State Government in the current financial year. The revised property guidance value is likely to be implemented in the month of August 2013.

Shelter is one of the necessities of every citizen and everyone is struggling hard to have a home of their own. The overall increase in the revised guidance value on properties across Bangalore is around 20 to 100 per cent, which makes the properties costlier adding to the woes of the buyers. The areas especially the central areas, southern areas and northern areas, which have witnessed increased property transactions, have seen increased guidance value of up to 100 per cent. The slum areas where property transactions were less have seen the least increase of around 10 per cent in the guidance value.