Hi Sreekanth,
I have planned to buy an Apartment in BTM 4th Stage, Devarchikkana Halli Main Road. My Advocate who is guiding me in registration process is saying that, All apartments need to be listed in guidance value list or else we cannot get this flat registered. I checked with Bommanahalli list apartment "Pariwar Palace" which is not listed. Website i checked is "guidancevalue.com".
And he also said that this new rule is from 01-April-2017 and website also says the same.
Getting confused at the last minute. Please let me know how to proceed with this. Waiting for your reply.
Thank you,
Prashanth
6 Answers
Dear Prashanth,
Is this a new Apartment which is under-construction?
The guidance values in Bangalore have been revised with effective from 1st April, 2017.
But, I am not sure if the said property is not listed in the Guidance value list, then it is not allowed to register the said property.
You can also find the guidance value in official KA govt website..
Suggest you to visit any nearest Sub-Registrar office, and find out about this new rule (if it is true).
You may also ask your lawyer about any official circular or notification regarding this.
Hi Sreekanth,
Today I had been to sub-registrar Jayanagar and confirmed that you Apartment name need to be listed in IGR Guidance value list. And this the new Rule from 01-Apr-2017. If it is not listed then you need to approach IGR Office which is located in Kandaya Bhavan, KG Road, Bangalore (8th Floor). From there we need to request for valuation of your property and then complete with the registration process. Its a 1-2 day process and we get a valuated form from IGR office.
http://crcbng.karnataka.gov.in/karigr1/Pages/home.aspx
Hi,
Thank you for sharing the update/info!
So, if a property (apartment) is an under-construction one, is it the builder who has to visit IGR office and get it valuated?
And if it is a resale transaction and if the flat / apartment is not listed, either buyer/seller has to visit and get this done?
Is my understanding correct?
Thank you!
Hi Sreekanth,
It is the builder who will get registered in IGR valuation list because he will be very eager to sell the property. Also I checked some of the know apartment theyare already listed.
Flat what I am buying is resale and it’s seller/buyer who need to need this work before getting registered.
I will share more formation once all job is completed.
Hi Sreekanth, There is rule saying that if apartment area is within 15000 Sq. meters OR older than 10 years this IGR valuation is not required or else required. I finally got registered my flat in RR Nagar Sub Registrar with the help of Advocate.
Thank you,
Prashanth
Prashanth
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