REVISED GUIDANCE VALUE – SOON!


THE GOVERNMENT IS KEEN ON REVISING THE GUIDANCE VALUE OF THE PROPERTIES IN AND AROUND BANGALORE AND MIGHT BRING IT TO THE MARKET VALUE/PRICE SOON.

THE BUYERS WHO HAVE ALREADY BOOKED THE APARTMENTS/VILLAS/SITES IN PRELAUNCH OFFERS AND THOSE WHO MIGHT BE REGISTERING IT BY THE END OF JULY,2013  WILL HAVE TO BEAR  ADDITIONAL BURDEN OF STAMP DUTY AND REGISTRATION FEE BETWEEN  2% 10% DEPENDING UPON THE VALUE OF THE PROPERTIES.

THERE IS A CLEAR CUT INDICATION THAT THE REVISION OF VALUES WILL BE BETWEEN 20% TO 200%. 

PROPERTY REGISTRATION EXPENSES SHOOTS UP BY 1% TO 15%


DUE TO THE REVISION OF GUIDANCE VALUE, THE STAMP DUTY AND THE REGISTRATION FEE( CHARGES) PAYABLE BY THE BUYER HAS GONE UP BY 1% TO 15% DEPENDING UPON THE QUANTUM OF REVISION. 

GENERALLY, 90% OF THE PROPERTIES REGISTERED ARE ALWAYS UNDERVALUED. 

ONLY THOSE SEEKING LOANS FOR THE PURCHASE WERE REGISTERING IT AT THE MARKET VALUE SO AS TO GET THE MAXIMUM LOAN, THUS WERE THE ONLY BUYERS WHO WERE HONEST(DUE TO COMPULSION TO AVAIL THE LOAN) DID NOT EVADE THE TAXES.

THE INCOME TAX DEPARTMENT IS CONDUCTING AN ENQUIRY INTO THE HIGH VALUE PROPERTIES AND TRANSACTIONS.