Even before Bengaluru real estate market could fully recover from the scars of from demonstration, the state government increased the guidance value in and around Bengaluru city. The increase is between 5 to 20%.
According to the Gazette notification issued by the state government, the guidance value has been increased in all the zones of the Bengaluru city and the urban areas of the Bengaluru rural district.
According to the authorities, the state government has given 15 days time to submit objections for the revised guidance value. “It will be implemented from October 1,” said sources.
“Last time guidance value was revised in March 2016. This time, the revision has been done to compensate the revenue loss arising out of the farm loan waiver,” said sources.
