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Land becomes dearer->TOI article extract


Land becomes dearer->TOI article extract

Last updated: March 6 2007
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  • Land becomes dearer->TOI article extract

    Your comments on this.
    Which areas will be more benifited and how much will the price rise?
    How much appreciation one can expect in land values from this?Article extract down under
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    TOI 06/03/2007

    Land becomes dear

    Govt Revises Guidance Value, 100-400% Rise In Upmarket Areas

    Kudli Gururaja | TNN

    Bangalore: Here is a shocker for those who are dreaming of buying a site or constructing a house in Bangalore. The government has revised the guidance value of prime areas in Bangalore by one to four times.
    The notification was issued on February 28 and March 14 is the last date for filing objections. The objections can be filed before secretary, central guidelines committee, BWSSB, Cauvery Bhavan, through post or handed over personally.
    With the guidance value having gone up, Bangaloreans will have to pay higher registration fee while buying land and buildings. Land prices already being sky-high, the decision is bound to pinch the middle class further.
    The guidance values of land that come under the 12 registrar offices in Bangalore have been revised. The new values will be applicable in Basavanagudi, Gandhinagar, K R Puram, Jayanagar, Rajajinagar, Shivajinagar, Srirampura, Bangalore North, Bangalore South, Yelahanka and Anekal registrar offices. There is a bonanza for those who own farmland in Anekal: the land priced at Rs 4.2 lakh per acre has shot up to to Rs 10 lakh per acre after the revision.
    In Tata Silk Farm area, it is quite steep: the revised value has shot up to Rs 4,000 from Rs 1,000 per sq ft. Bellary Road (up to Mehkri Circle) has also seen a steep revision: from Rs 3,000 to Rs 7,000. The revision is over double in Jayanagar 9th block: from Rs 2,000 to 5,000 per sq ft. So also Bannerghatta Road from Rs 2,000 to Rs 4,000.
    In Annepura, Azadnagar areas, the guidance value for one sq ft has gone up from Rs 500 to Rs 1,000; in Banashankari I stage, it has been increased from Rs 1,500 to Rs 2,000 per sq foot, while in Srinagar Layout from Rs 800 to Rs 1,300 per sq ft, Ashoknagar Rs 1,200 to Rs 1,900 sq ft, Chennammana tank from Rs 1,000 to Rs 1,650 sq ft, and Hosakerehalli BDA Layout from Rs 1,000 to Rs 2,000 sq ft.

    The new rates

    Bangalore: The government has revised the guidance value for the following areas. The revised rates are: In Gandhi Bazaar, the value has nearly doubled from Rs 2,500 to Rs 4,500 per sq ft, Kanakapura Road from Rs 2,200 to Rs 4,500, South End Road from Rs 2,200 to Rs 5,000.
    In Hanumanthanagar cross road area, the value has gone up from Rs 1,400 to Rs 1,950 per sq ft, Lalbagh Road from Rs 2,500 to Rs 4,500, Kathriguppe Rs 1,000 to Rs 1,600.
    Land in RT Nagar too has become quite expensive: in first and second blocks the revision is from Rs 2,000 to Rs 3,000 per sq ft. In the upmarket Sadashivanagar, it has gone up from Rs 3,000 to Rs 4,500. In Madivala BDA and BMRDA layouts for every sq ft which was Rs 105, it is now Rs 450. In Sarjapur, value of agricultural land is revised to Rs 34 lakh per acre. TNN
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