Currently, a property buyer in Bangalore does not have a clear and transparent source for property pricing information. While available online, property pricing information is often incomplete, vague, or inconsistent. Further, there is not yet an adequate system to capture true property prices in Bangalore.
Bangalore's government is likewise disadvantaged by an absence of clear property pricing information.Guidance values
are supposed to reflect market values but rarely correlate withreported purchase prices
. Guidance values also informstamp taxes
. Buyers thus have a perverse incentive to under-report their purchase price to diminish their stamp tax expenses.