The Stamps and Registration Department might be revising the Guidance values of the properties in the Bangalore Rural and urban Districts between 02-11-2015 to 05-11-2015. It is learnt that a decision has already been taken and will be announced soon.
The New Guidance Values will reflect the latest market values of the properties and there was a section/group, which requested the Govt not to increase the guidance or market values for the registration purpose as the realty sector reeling under severe pressure.
There is an average increase of about 10% to 30% in the property registration values in and around bangalore, coupled with 30% to 40% increase in the municipal taxes will definitely bomb the market and will drag it down to 5 years low in prices.
The prices of properties are not looking up except in the builders advertisements and brochures and the rental market is down by 10% to 40% in the IT belt.