Revenue ministerKrishna Byregowdarevealed that technical glitches in Kaveri 2. 0, the portal to register property documents, have been sorted out, ending months of disruption in registration of property documents in sub-registrar offices acrossKarnataka.
He also said once online registrations are streamlined in all 256 sub-registrar offices, the government will raise property guidance values. Revenue department officials say the government plans to increase guidance value by 15% to take advantage of the real estate markets expansion and boost revenues to pay for its poll guarantees.
Last year, the government had offered a rebate of 10% onguidance value to boost property transactions in a sluggish market in the aftermath of two pandemic years. ButByregowdasaid transactions are higher than last year although there is no rebate now. This year, revenue collection has gone up to Rs 3,425 crore.