How to check Online property guidance valuation calculator in Bangalore? Is there any property valuation calculator in Bangalore? What is the property value in Bangalore 2018? For all these questions the answer is a simple online tool developed by the Government of Karnataka.
The Stamps and Registration Department has launched an online property valuation calculator
In many cases, the price of Guidance Value is much lesser than the market value. However, you can understand the price movement of the area by referring to this Guidance Value of different parts of the city.
Before jumping to searching the guidance value, you must understand what is the guidance value and market value. I have already written a detailed post on this “Guidance Value of Bangalore – How it affects property price?“.
What is the meaning of Guidance Value?
Guidance value is nothing but a price of the property as per the local Government. For example, the Government of Karnataka declares the Guidance Value for Bangalore. You can’t register the property below this price. I will try to explain the same from below image.
In guidance value, there are two types.
# Land Value-This value is only for lands not for any constructed properties. Hence an open site value is measured as land value.
# Composite Value-This value is for the constructed properties where it includes both land value as well as the value of buildings.
You noticed that for Property B, the market price is Rs.8,000 per Sq Ft. But the Government Guidance Value is Rs.4,000 per Sq Ft. You can register the property at the rate anywhere between Rs.4,000 to Rs.8,000.
In the case of Property A, the market is the price is Rs.2,000 per Sq Ft. But the Government Guidance Value is Rs.4,000. Hence, you are not allowed to register the property below the Government Guidance Value.
It clarifies that you are no longer allowed to register your property below the price of Government Guidance Value. However, you are free to register at any price which is above the Government Guidance Value.
Hope you now got an idea about Guidance Value.
Why Government raises the Guidance Value of Properties?
For Government, the major revenue source is property registration. By raising the guidance value, the Government expects higher revenue. Therefore, once in 3-4 years usually there will be an increase in guidance value.
How Guidance Value of property affect the prices?
Let us say Property XYZ is currently selling at Rs.4,000 Sq. Ft. and Government Guidance Value is Rs.3,000. Then there is a sudden jump in Government Guidance Value from Rs.3,000 to Rs.4,500. In such situation, the property owner of XYZ will definitely not willing to sell his property less than Rs.4,5000. Because he knows Government itself fixed the price at Rs.4,500 then why he wants to lose by selling it lesser than the Guidance Value.
In this way, whenever there is a revision in Government Guidance Value, the price of real estate will jump. It is not the affordability of the buyer. But the price, below which no one ready to sell. Hence, with revision in Guidance Value, those who are in real estate business will feel happy. But the buyers feel it sad as the price of real estate will automatically raise.
Online property guidance valuation calculator in Bangalore – How to check?
The Stamps and Registration Department has launched an Online property guidance valuation calculator in Bangalore. Using this tool, you can calculate the online property guidance valuation calculator in Bangalore easily.
The calculator software has been loaded with details of all areas in Bengaluru Urban and Rural in BDA, BBMP and gram panchayat limits.
It is a simple online property guidance valuation calculator in Bangalore, using which you can easily find out the valuation of the area you are looking for.
Let me explain the same as below.
Step 1- Visit the Kaveri Online Services know valuation details page.
In the basic search, you have to choose the district from the drop-down menu, then type three letters of the area you are looking for, then by default when you select the area, the other details like Taluka, Village Name and Hobli will pop up.
Then you have to enter the property usage type (like Agriculture land or Non-Agriculture Land), then enter the measurement of your property and choose the measurement unit also. Then finally click on Display Valuation.
It will show you the current guidance value of the property.
However, if you opted for the Advanced Search, then additionally you have to select the details like registration district and SRO office in which your property belongs. Once you search using either basic or advance search option, the results look like below.
You notice that the guidance value is in terms of per square meter. You have to convert it to per square feet by dividing the value to 10.7639.
Hope this information and real-time online property guidance valuation calculator in Bangalore will make life easy for the property buyers.