Prices soar, people sore

‘FAULTY’ GUIDANCE VALUES
Prices soar, people sore
Deccan Herald

The last revision of property guidance values of the revenue department had seen a lot of resentment from the public. However, the guidance values continue to be underused reference material, as property developers in the Hebbal–Devanahalli belt have their own set of guidelines to arrive on the prices. The Bangalore International Airport Area Planning Authority (BIAAPA), responsible for development in areas around the airport, says the burgeoning real estate prices are beyond its purview. “Prices are decided between individual buyers and sellers. As long as there are buyers who don’t mind spending more than what is prescribed, this boom will continue,” says a senior BIAAPA official.