THE GOVERNMENT IS SERIOUS ABOUT INCREASING THE STAMP DUTY ON THE REGISTRATION OF PROPERTIES AND THE GUIDANCE VALUE MIGHT BE BROUGHT TO THE MARKET RATE COUPLED WITH 1% TDS ON THE VALUE OF THE PROPERTIES WHICH EXCEED RS 50 LAKHS AND ABOVE, AS PER THE RECENT FINANCE ACT, WILL INCREASE THE PRICE OF THE REALTY MARKET IN BANGALORE.
IN ORDER TO GENERATE ADDITIONAL REVENUE TO MEET THE DEFICIT OF THE BBMP, THE PROPERTIES WHICH ARE IRREGULAR WITH DEVIATION AND VIOLATION MAY BE BRANDED DIFFERENTLY AND TAXED ACCORDINGLY TILL IT GETS REGULARISED AND THE TAX SLABS MUST BE 3 TIMES GREATER/HIGHER THAN THE OTHER PROPERTIES.
This proposal may not be practical as there will be stiff opposition from the VIOLATORS AND DEVASTATORS.