Property deals in K'taka set to cost more as state plans 20% hike in guidance value
Bengaluru: Property transactions across Karnataka are set to become more expensive from April 1, with the state government initiating steps to revise the guidance value of land and buildings, a move that will have a direct bearing on stamp duty and registration charges.
Acording to sources in the government cited by Deccan Herald said the average increase in guidance value is likely to range between 15 per cent and 20 per cent, though a final decision is yet to be announced. The Department of Stamps and Registration has been instructed to complete the necessary formalities and publish the draft revised rates at the earliest.
A senior official told Deccan Herald that existing rules permit annual revision of guidance value in view of rising property prices. The last revision was carried out in October 2023 and the process for the current revision began after a meeting of the Central Valuation Committee on January 12.
Officials associated with the exercise were quoted as saying that the proposed revision aims to narrow the gap between prevailing market prices and government-notified guidance values. They maintained that the exercise is routine and not directly linked to the state’s revenue position.
The state had initially set a target of ₹28,000 crore from property registrations, which was later reduced to ₹25,000 crore. The reduction was made following difficulties in registrations after e-khata was made mandatory. Noting that property registrations typically increase in the closing months due to tax considerations, officials indicated that there is currently a shortfall of around ₹3,000 crore, which they expect to bridge by the end of the financial year.
An upward revision in guidance value would raise the minimum value at which properties can be registered. At present, buyers pay 5 per cent of the guidance value as stamp duty, 2 per cent as registration fee and 0.60 per cent as cess and surcharge, taking the total levy to 7.60 per cent.
Deccan Herald quoted Suresh Hari, former secretary of CREDAI, as saying that a revision in guidance value may be justified in line with market trends. He also cautioned that if it becomes the basis for calculating stamp duty, overall transaction costs for buyers would increase.
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Sujit Nair raises concerns over speculation of DMK-AIADMK understanding to block TVK
Chennai: Journalist and political commentator Sujit Nair has expressed concern over speculation that the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam could explore a post-poll understanding to prevent Vijay-led Tamilaga Vettri Kazhagam from forming the government in Tamil Nadu.
In a social media post, Sujit Nair said the election verdict in Tamil Nadu reflected a clear public demand for political change and argued that the mandate should be respected irrespective of political preferences.
Referring to reports and political discussions surrounding a possible understanding between the DMK and AIADMK, he said he hoped such developments remained only speculative conversations and did not turn into reality.
Nair stated that if such an alliance were to take shape, it would raise serious questions about ideological politics in the country. He said TVK had emerged through a democratic electoral process and that the legitimacy to govern in a parliamentary democracy comes from the people’s verdict.
According to him, attempts to prevent an electoral winner from forming the government through unexpected political arrangements may be constitutionally valid, but many people could view them as politically opportunistic.
He further said that such a move could particularly affect the political image of the DMK, which has historically projected itself around ideology, social justice and opposition politics. Nair said that in ideological terms, the DMK appeared closer to TVK than to the AIADMK, and joining hands with its long-time political rival only to remain in power could weaken its broader political narrative.
He added that the same questions would apply to the AIADMK as well, as the party had spent decades positioning itself against the DMK and such an arrangement could create discomfort among its cadre and supporters.
Drawing a comparison with Maharashtra politics in 2019, Nair said he had expressed similar views when the Shiv Sena formed an alliance with the Indian National Congress and the Nationalist Congress Party after the Assembly elections.
He said post-poll alliances between long-standing political rivals often create a public perception that ideology and electoral mandates become secondary when political power equations come into play.
Nair also said such developments increase public cynicism towards politics and reinforce the belief among voters that ideology is often sidelined after elections.
He maintained that the Tamil Nadu verdict was emphatic and said respecting both the spirit and substance of the mandate was important for the credibility of democratic politics.
