New GV in place, govt to resume land registration

P AY MORE AND REGISTER
New GV in place, govt to resume land registration
VIJAY TIMES NEWS

Bangalore: After holding up the registration of lands and buildings for the past three months causing undue hardship to the citizens of Bangalore, Revenue Minister M P Prakash announced on T uesday that the registration would be resumed within a fortnight.

The issue of lifting the ban on registration would be taken up at the next Cabinet meeting, he said.

He told reporters that the registration was stopped as the government was in the process of revising the guidance value of properties situated in the City Corporation limits. Now that the revision had been finalised, the sub-registrar offices would be instructed to renew the registration process.

He said the Cabinet sub-committee which was set up to go into regularisation of unauthorised private layouts would submit its report soon and a final decision would be taken by the Cabinet.

Admitting that as a result of the ban, the State exchequer had incurred a loss of Rs 600 crore, Prakash said the ban was imposed to prevent profiteering by land developers who indulged in benami transactions.

Defending the hike in the referral price of land for registration in Bangalore City , he said the rate had been fixed on scientific lines. There was no possibility of reducing the same.

He said there was a need for increasing the guidance value of the properties in other major cities and towns of the State as wel and as a follow-up, the government was contemplating to issue fresh guidance value for Mysore city on the lines of Bangalore.

4 New GV came into effect from Oct 14

4 GV hiked to bring more revenue to govt through stamps and registration

4 Earlier , apartments were valued uniformly irrespective of their location, facilities

4 Under new system, guidance value for apartments vary depending on quality of construction, location and facilities offered

4 Different rates fixed for mosaic and marble flooring