The new guidance value, which is on an average 30-40% higher than before but in some cases even double, came into effect in the State on October 1, Sunday.
This is the first revision since the last one on January 1, 2019. While the practice has been to revise guidance value every year, it has not been done during the past few years owing to the pandemic. With the revision of guidance value, the State government aims to shore up revenue collection.
The Budget presented by Siddaramaiah in July hiked the target for the Department of Stamps and Registration to ₹25,000 crore from ₹19,000 crore target in the February Budget presented by former Chief Minister Basavaraj Bommai.
