My new house warming ceremony

After many months of house hunt for my new 2nd home & many months of interior works, I finally had my new house warming ceremony on Feb 20th-21st 2022. I will share the journey of my house hunt, interior designs & property investments in my future videos. Stay tuned for that & enjoy this small glimpse from my house warming ceremony!

How to calculate? Sub registrar guidance value in Bangalore 2022

Step 1: Visit the Kaveri website at kaverionline.karnataka.gov.in to calculate sub-registrar guidance value in Bangalore 2022.

Step 2: Opt for basic or advanced search to search for the guideline value.

Step 3: Type in details of district, area name, property usage type, property type, total area and measurement to calculate guideline value Bangalore. Other fields will be auto-populated and you will be shown a valuation of the building rate.

Step 4: Other details that you may want to enter are about the construction type, annexure rules, parking type etc. This will throw up a total valuation of the property.

 

 

If you are opting for an ‘advanced search', you will have to enter extra information pertaining to the registration district and the SRO Office.

See also: All you need to know about Kaveri Online Services

Apart from the facility of calculating the guidance value in Bangalore 2020-21, the guidance value Bangalore 2020-21 pdf or online copy of the registered documents is also available on the Kaveri website. Guidance value Bangalore 2020-21 pdf, guidance value Bangalore 2019-20 pdf download, etc. can be done from the Kaveri online guidance value website.
Guidance value Bangalore example

Illustrating with a guidance value Bangalore example, Jairaj Reddy decides to buy a property with a market value of Rs 6,500 per sq ft. The sub-registrar guidance value in Bangalore in that area is Rs 5,000 per sq ft. So, home buyers can register the property at a rate between Rs 5,000-6,500 per sq ft.

Now, suppose it was the other way around. That is if the property was at the selling price of Rs 5,000 per sq ft but the sub-registrar guidance value in Bangalore 2021 was Rs 6,500 per sq ft, Reddy would still have to register it at Rs 6,500 per sq ft, because it is the minimum value.

Courtesy: housing.com

Basic facts about Sub registrar guidance value in Bangalore 2022

The terms guidance value or guideline value are used interchangeably and refer to the same value. Different states may use one or the other. People may usually search for one or the other term, depending on which state they belong to. Other names by which people usually identify guidance value Bangalore or guideline value bangalore, include ‘Ready Reckoner rate’ or RR rate, which is widely used in states like Maharashtra and ‘Circle Rate’, which is a term often used in Delhi, Noida, etc.

Some of the facts about the guideline value Bangalore are:

Guidance value or guideline value is like a fixed price of the property. It cannot go below this value.Even if you buy a property at a lower value, you will still be required to pay the stamp duty at the guidance value. Not just that, Section 56(2)(vii)(b) of the Income Tax Act, 1961 says that if stamp duty value exceeds the purchase consideration, then, the difference between the stamp duty value and the purchase consideration will be treated as Income from other Sources.If the sale of the property has happened at a higher value than the BBMP guidance value 2021, registration takes place as per the higher value.A well-developed and established locality may have a higher guidance value. The same value will be lower in areas that are early-on in the development cycle.Note that guidance value is just a benchmark. A home buyer cannot persuade the property seller to sell at the guidance value.The property can be sold at any price between the guidance value and the market value, if the latter is higher, without any additional tax implications.If you see a property being sold for less than the guidance value, check its documentation and details. The developer may be doing so to save on tax.Courtesy : housing.com



Now that you are familiar with the term, let us see how such values are calculated. Let’s take the example of Bengaluru.

One should check the latest guideline value Bangalore before investing in a property in the city. When getting property transactions registered at the sub registrar office, sub registrar guidance value in Bangalore 2022 will help determine the stamp duty and registrations charges you will be paying.