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Property Guidance values increase in Bangalore
02-Feb-2023 (In Property Law)
Sir,
I am purchasing a flat in Bangalore. I have done the agreement in December first week. But in the middle of registration process govt increased the guidance values of property to 4182 effective from 1st January 2019.
As I have already done agreement with builder before increased value , so should I give new high guidance values during registration or should I be eligible for old guidance value i.e 2853.
Appreciate your kind response on above query.
Thank you
Pragyan
Sir, I am purchasing a flat in Bangalore. I have done the agreement in December first week. But in the middle of registration process govt increased the guidance values of property to 4182 effective from 1st January 2019. As I have already done agreement with builder before increased value , so should I give new high guidance values during registration or should I be eligible for old guidance value i.e 2853. Appreciate your kind response on above query. Thank you Pragyan
In the problem you have not started the agreement of sale is registered or not.
In case there is hike in the government value you need to go by that value itself. Because, the act of registration is depends on the assent market value.
Present market value is the value of the site / premises on the day of registration. Therefore, new value is binding on you.
In the problem you have not started the agreement of sale is registered or not.
In case there is hike in the government value you need to go by that value itself. Because, the act of registration is depends on the assent market value.
Present market value is the value of the site / premises on the day of registration. Therefore, new value is binding on you.
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Adv. M Lakshmikanth Arya
Bangalore | 500+ Answers
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