Karnataka to Implement Revised Property Guidance values from 1 October

21 Sep 2023 CW Team

Karnataka's Minister for Revenue, R. Ashok, has announced the forthcoming implementation of revised property guidance values in the state, set to take effect from 1 October. This significant move aims to address the growing disparities between property prices and government-assessed values.

The revision of property guidance values is expected to impact various aspects of the real estate sector in Karnataka. It will influence property transactions, stamp duty calculations, and overall property taxation. The government's decision reflects its commitment to maintaining fair and accurate property valuations, ensuring that property transactions are conducted transparently.

This announcement comes at a time when the real estate market in Karnataka has been witnessing notable growth, making the need for updated property guidance values increasingly apparent. Property buyers and sellers alike will need to pay attention to these revised values to ensure compliance with the new regulations and avoid potential discrepancies in property transactions.

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