Apartment parking lots become dearer

Apartment parking lots become dearer
Bangalore, DHNS:
The Department of Stamps and Registration has notified fresh guidance values for parking lots in apartments in Ramanagaram district and Devanahalli, Doddaballapur, Hoskote and Nelamangala in Bangalore Rural District.


According to the draft notification on Tuesday, owners of new apartments will have to pay Rs 70,000 and Rs one lakh for open and covered parking lots respectively. Sites close to National Highways have been valued higher than other sites falling in the same guidance value bracket.

Commercial sites that fall in BDA, BBMP and housing board land have been valued 40 per cent higher than residential sites in the same areas. In old CMC areas, commercial sites have been valued 30 per cent higher than residential sites.

Space in shopping malls has been priced 30 per cent more than residential apartments. The notification also prescribes a 10 per cent increase on guidance values for prices of corner sites.

Through the notification, the Department has stipulated varied hikes in prices of developed residential, commercial and industrial land. While developed residential land can fetch a 50 per cent increase in price, the figure is 60 per cent for commercial as well as industrial sites.

In Ramanagaram, the fresh guidance values will be applicable across Channapatna, Kanakapura and Magadi.