Government Land Rates In Bangalore 2024

Government land rates are the minimum rates set by the government for property purchase, which start from Rs. 5000 and go up to Rs. 25,000 per square foot in Bangalore. They vary from place to place and are determined by the Department of Land Registration. These rates depend on factors such as proximity to infrastructure, commercial value, and development potential. The rates are usually updated regularly to reflect market trends.

The government land rates or the Guidance value is the lowest price set by the state government for a particular area. In Bangalore, it's also called circle rate or ready reckoner rate. In other parts of the country, it might have different names. The guidance value in Bangalore is called as Kaveri value, which is set by the Karnataka govt. This is a fixed price of property, and no land can be sold below this value.

Starting from October 1, 2023, Karnataka raised the guidance value by up to 50%. This increase will affect property taxes. The stamp duty, which is 5% of the guidance value, and property tax, which is 2% of the stamp duty, will both change accordingly. The stamps and registration department regularly updates the guidance value in Bangalore. They make sure that these rates closely match the actual market prices of properties. This helps prevent illegal activities like using black money or making cash transactions.

The current guidance value in Bangalore per square meter

Importance of Kaveri or Bangalore guidance value

1. Property tax is calculated using stamp duty, which means the Kaveri guidance value indirectly influences it.
2. The guidance value helps in estimating stamp duty and registration fees.
3. The Kaveri online value makes sure that money is generated fairly and properties are not undervalued.

Guidance value is based on certain factors. These are:

1. Location - The value is decided on the property's location. The areas that offer good connectivity and better infrastructure have higher values.
2. Type and usage of property - The usage of property impacts the guidance value. It depends on the property type, like
• Agricultural
• Residential
• Commercial
• Industrial

The type of land can impact the value of the property as well.

3. Good connectivity and social amenities - Areas that have good road, rail, and air connectivity impact the value of land there. The presence of schools, hospitals and malls influences the Kaveri value.
4. Regulatory factors - If a location is restricted due to zone regulations or land use policies, like being in a SEZ, it affects the guidance value.

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