Should registration of flat be done on the guidance value set by government or the actual sale value?

 Whichever is higher.

In Karnataka including Bangalore, the stamp duty and registration cost is based on either government value or sale value, whichever is higher.

In order to avoid underpayment of stamp duty and registration cost, the revenue department fixes market value for every property. One has to pay stamp duty and registration cost either on market value (government value) or sale value, whichever is on the higher value.

Below are the stamp duty and registration cost for a flat in Bangalore,

Sale value less than Rs. 20 Lakh:

• Stamp duty: 2% of property value
• Surcharge Value : 0.1% of property value
• Cess Value : 0.2% of property value
• Total Stamp Duty : Stamp duty + Surcharge value + Cess value = 2.03%
• Total registration fees: 1% of property value

Sale value between Rs. 20 lakh - 45 Lakh:

• Stamp duty : 3% of property value
• Surcharge Value : 0.1% of property value
• Cess Value : 0.3% of property value
• Total Stamp Duty : Stamp duty + Surcharge value + Cess value = 3.03%
• Total registration fees: 1% of property value

Sale value more than Rs. 45 Lakh:

• Stamp duty: 5% of property value
• Surcharge Value : 0.1% of property value
• Cess Value : 0.5% of property value
• Total Stamp Duty : Stamp duty + Surcharge value + Cess value = 5.6%
• Total registration fees: 1% of property value

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To find the government value of your property. please follow the below step-by-step procedure. (This procedure is applicable only if your property in Karnataka)

Step 1: Open the website Kaveri Online Services. The below website image for your reference.

Step 2: On the home page, scroll down a bit and click on “Know your property valuation”. Refer to the below image in the circle

Step 3: In the Districts, select the name of the district where your property located.

For example: We selected Bangalore Urban, below image for your reference.

Step 4: In the Area Name, type the name of an apartment

For example: We have a flat in Sobha Ruby apartment in Bangalore Urban, hence we typed “Sobha Rudy” in Area name, where my apartment name automatically popup for selection.

Automatically Taluka, village name, and Hobli details display. Below image for your reference.

Step 5: In the Property Usage Type, select as follows

• Select non-agricultural.
• Property type as “Flat/Apartment”
• The total area of my flat is 1500 Sq.ft hence we typed as 1500
• We selected measurement unit as sq. feet from a drop-down list (multiple measurement unit options are available from a dropdown list)

Refer to the below image in the circle for your reference.

Click on “Display valuation”. Below image in the circle for your reference.

As per the above image, the guidance value of my property is Rs. 42,300 per square meter.

We converted the square meter to square feet, My property size is 1500 sq. ft, hence the total guidance value of my property is Rs. 58,94,700/-

The government value/ Guidance value/ market value of my property is Rs. 58,94,700/-

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We provide assistance in providing the market value of your property and other assistance pertaining to buying or selling your property. To opt for our service, please Whatsapp to + 91 - 9 7 4 2 4 7 9 0 2 0.

Thank you for reading…