The department, which will announce the details next week, will implement the revised guidance value in the next 15 days.
The department will invite objections from the public, for the revised values. According to officials, the guidance value has been fixed after ascertaining features like basic amenities, distance from Bangalore City, major roads, commercial activities and other aspects in an area.
Value of properties in and around slums is expected to go up by 10 per cent, while rates are expected to escalate up to 100 per cent around commercial hubs.
The government, which is increasing the guidance value after four years, expects to net a huge revenue from this revision.
10 to 30 pc in the districts
B Shivappa, Commissioner in the department, said the process was in the final stages. Guidance value is said to have been raised by 10 per cent to 30 per cent in other districts.
“The department which generated a revenue of Rs 3,700 crore last year, is expecting to accrue an additional amount of Rs 800 crore through the increase in the rates. Around Rs 500 crore is expected to be collected from areas coming under the jurisdiction of Gandhinagar, Shivajinagar, Rajajinagar, Jayanagar and Basavanagudi, alone,” he said.
The notification has presently been sent for printing. Details pertaining to the draft will be made available in the offices of the sub-registrar, deputy commissioner and gram panchayats in Bangalore Urban, Bangalore Rural and Ramanagar districts Monday onwards, for filing of objections.
Objections can be marked to the Secretary, Central Valuation Committee, Shimsha Bhavan, No 720, 46th cross, 8th Block, near Sangam Circle, Jayanagar. The final notification is likely to be issued in the first week of August.