Dear Mr. Shekar,
It is correct what Mr. Subramanian has told about the Guidance value. i.,e Guidance Value is the minumum value fixed by Govt. for the property in respective area. The registration cannot be done on a value less than Guidance Value. Also the Market value is different from the Guidance Value. that is to say in common language the Market value varies depending on the demand , requirement, importance of the proximity to any new development in the locality Example : Airport coming nearby or a ring road coming nearby will shoot the prices up which can be a fancy rates. Every now and then and for every street the Guidance value cannot be changed on daily basis by the Govt. Hence the Fixed Guidance value for a particular locality which will be renewed whenever there is a need for doing so by the GOvernment. But the market value keeps fluctuating day in and day out. To maintain uniformity and to avoid confusion while registering the property the Guidance value of the property removes any ambiguity for the same. The details of guidance value can be obtained from the jurisdiction Sub-register office. However there is no bar in you getting the property registered as per Market value if u wish which of course cannot be less than the Guidance value. Only thing u can end up paying more stamp duty to the Govt. Nothing affect the registration of u r flat either registered as per guidance value or higher market value. Only thing is exercise due diligence regarding scrutiny of the title of the property and the flow of title deeds are in order.
For any more clarification u can revert back to me on sohan1912@rediffmail.com or on 9845285555 at Bangalore. if u need any assistance in scrutiny of documents and registration of the same.
Good Luck and Warm Regards.
Mahadeva Rao G, ADVOCATE, 9845285555, BANGALORE.
