Property Guidance Value Hike Delayed in Bangalore till Mid-Sept
State government had issued the preliminary notification for increasing the guidance value in Bangalore on July 16, giving the public two weeks to file their objections, if any. The notification had suggested a hike ranging from 10% to about 200% depending on the civic amenities and demand for properties in the concerned areas.
But the recent political turmoil within the BJP and the state – which saw BS Yeddyurappa losing his chief minister’s post and the subsequent tight-rope walk of his successor DV Sadananda Gowda – has delayed the hike in property guidance value in Bangalore. The hike is unlikely to happen before mid-September.
Not surprisingly, property buyers in Bangalore are rushing through their deals and getting their properties registered in a hurry before the hike is notified.
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