The decision taken by Government of Karnataka to reduce 10 per cent of the property guidance value will continue another three months in the state with effect from April 25. The extension will last till July 24. To speed up registration of their properties, the Karnataka Government slashed the property guidance value by 10 per cent with effect from Jan 1 this year. The last date for the same was March 31. However, it extended the decision further to continue till July 24.
The decision is beneficial to both the people and to the government. Following demands from public, the government has decided to extend it by three months, according to Chief Minister Basvaraj Bommai. The order is applicable to land, site, building, flat or any other property. The property sale prices fixed by the government depending on region and type of construction are described as property guidance value.
