bengaluru sub registrar office: Karnataka: Sub-registrar office timings extended as property buyers queue up ahead of guidance value hike

The sub registrar offices in the Karnataka will function from 8 am to 8 pm till September 30 in view of the sharp increase in property registrations, Revenue Minister Krishna Byre Gowda announced on Friday. They will function on September 23, Saturday also, though it is a government holiday.

The minister’s announcement followed a sharp jump in property registrations as the government has increased the guidance value of immovable properties as much as 30%, effective October 1.

Property buyers are rushing to sub registrar’s offices to complete the registration process before October 1 to save on the additional stamp duty as well as the registration costs.

The Revenue Minister on Tuesday announced that the guidance value of properties in Bengaluru will go up from October 1 by 25%-30% on average.

Plots near the national highways and in technology corridors such as electronic city, the jump in guidance value will be as high as 50%. The government has tried to align guidance value with the market value to the extent possible.

The government had not revised the guidance value for the past five years though the law mandates annual revision.