Guidance Value for Property in Bangalore
Guidence value for Bangalore is set to rise by 40% With the government
declaring new guideline values, which will be reveiwed every year the official
rate of land is set to soar by 40% in Bangalore and the revenue proceeds will
be used to subsidize the government populist schemes. The revnue minister
told the legislative council on june 25th that the revised rates has already
been announced and propositions and objections are sought from the public and
the new rates will be employed within a month. Further the minster also said
that in some parts of the state the present land rate is ununiformed with
values lower than the market values and there are places where the variation
between guidence value and market value is more than 100%. The guidence value has
already been amplified by 30% in 25 districts by the government and the values
in other districts will also be revised in three months, added the minister.
The government has also decided to set up a land evaluation committee to guide
the government on revising the guidence value and after putting forward its
recommendations , it plans to revise the value every year.
and also,
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