Property prices to go up in Karnataka? – Star of Mysore

State Govt. doubtless to enhance steering worth by 15% to 20%

Bengaluru: Buying property in Karnataka might quickly grow to be dearer, with the State Authorities doubtless to enhance the steering worth by 15% to 20% from Apr. 1. An official announcement, nonetheless, remains to be awaited.

The steering worth was final revised in October 2023, when it was elevated by 30%. With one other revision proposed after about two-and-a-half years, the Authorities is aiming to generate a further Rs. 2,500 crore in annual income.

A rise in steering worth, minimal worth mounted for property transactions, immediately impacts market prices, because it serves as benchmark for valuation. It additionally leads to an increase in stamp obligation and registration fees.

The transfer comes at a time when the State is going through monetary pressure and considerations have been raised over the sustainability of its 5 assure schemes.

Rs. 28,000 cr. goal

For the monetary 12 months 2025-26, Authorities had set a income goal of Rs. 28,000 crore from property registrations.

Nonetheless, it’s anticipated to fall brief by almost Rs. 3,000 crore, with collections projected to contact round Rs. 25,000 crore by the tip of the present fiscal.

Sources attribute half of the shortfall to points surrounding property registrations after the introduction of necessary e-Khata.

For 2026-27, the Authorities is reportedly focusing on Rs. 30,000 crore in income from the Division of Stamps and Registration and has instructed officers to start the train of revising and tabulating the steering worth.

When contacted, District Registrar Vijayalakshmi Enamdar advised Star of Mysore this morning, “We have now not acquired any directions relating to a rise in the steering worth. At current, we’re centered on implementing the GIS-based mostly steering worth system.”

Throughout the State, steering values are revised periodically in line with statutory provisions. Traditionally, property prices have risen following such revisions.

The State has 259 Sub-Registrar Workplaces, together with 43 in Bengaluru and surrounding areas. Round 22 to 24 lakh properties are registered yearly, with almost 60% of transactions recorded in Bengaluru.