Market Projection Price Gap Triggers Karnataka Review

In Karnataka, there is a review of the guidance value of real estate properties. There is a gap between the current guidance value & the usual market value of all the real estate properties. It started when the Stamps Division reported about the low revenue.

The difference between the market value & the guidance value is there on the city’s outskirts. It is because there is a big demand for farm land in real estate. The market value is now10 times much more than the guidance value. It is mainly in the North Bangalore, areas.

There is a change of 60% between the market value & guidance value for sites in many urban areas. The earlier revision of the guidance value for the city came in Oct 2023. The GIS based revision will also balance the gap in revenue area.

The review will help to increase revenue to the state. It will also break the black money in the real estate market. Black money is getting replaced when there is a change between the market value and guidance value.

As a result of this, farmers can easily benefit from a high guidance value when they buy any farming land. They can also get a better value for their land in any dealings.

In city areas, the enhancement rate for houses, row houses, flats, and villas is taken as being improved for farm land. Now, steps are taken to increase the revenue from digital stamps that will stop the under valuation in use of the stamp paper.

With the Cabinet approving the A khata policy, leading to sites professed as public roads, many real estate properties will get A khata. There is a hope for an increased revenue when the Rural Sector issues draft khatas for up to 85 lakh real estate properties in this year.

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