The Tamil Nadu government’s treasury received Rs 5,020 crore through stamp duty and registration charges during the last 2010-11 fiscal, and two third of this sum comes from the registration of properties alone.
In neighbouring Karnataka and Andhra Pradesh states had the guideline value been revised every year to be on par with market rates as is done. The revenues would have been two or even three times more.
Last four years as many as many places in state land cost increse two or even three times more. So, goverment is plannig to increse the Guideline Value. Recently one review meeting held at Chennai. At this meeting discuss many issues.
With the new guideline values in place, the Tamil Nadu government expects to raise another Rs 3,000 crore, that is total revenue expect is Rs. 5,000 crore.
Valuation sub-committees set up for the purpose of estimating and revising the guideline value in districts are working with the revenue department and local bodies at the field level. Led by the district collector, the sub-committees consisting of staff from local civic bodies and revenue and registration departments have started surveys in all the 32 districts of the state. As many as 578 sub-registrars across the state are supporting the exercise.
The state government is all set to announce new guideline values for the 4 crore survey numbers in villages and 1.89 lakh streets in corporations, municipalities and town panchayats in the state.
The field survey to ascertain market values must be completed by 2011 December, as per schedule.
On completion of assessment, the valuation committee will invite suggestions and objections from the public at least twice, before making the new guideline value final.
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