Tamilnadu: Property Guideline Value Increased by 20% From November 2014..!

Tamilnadu: Land & Property Guideline Value Increased From November 2014..!

There is no official announcement...!

In Tamil Nadu, the Guideline Value of property had increased by nearly 20% from November middle, 2014. But, there is no official announcement.  There is no update in Tamilnadu governments official web site (http://www.tnreginet.net/). The guideline Value  increased by district level. Some areas like Chennai city (Ashok Nagar) the guideline value increased by about 12.5%.

Let's see what the impact of the 20% Guideline Value increase.

Before November 2014, the government guideline value of a property  worth Rs. 50,00,000 (Rs. 50 lakh).  ie  8%, of the guideline value of the the property is Rs. 4,00,000 (Rs. 4 lakh). If the  Government guideline value increased by 20%, the value of property ,w ill increase to Rs. 60 lakh. Then the 8% is Rs. 4.8 lakh.  ie Rs. 80,000 to be paid in addition.

According to one senior official, ''As the Tamilnadu State is losing huge revenue due to non revision of guideline values after substantial increase in the market value of properties, The state government  had decided to implement the revised guideline values with effect from  November,  2014."

Stamp Duty on instruments of sale & other instruments presently charged at the rate of 5% to be continued. There is no change in the 2% surcharge {collected for development of local bodies such as corporations, municipalities & panchayats} and 1% registration fee. In effect, overall registration charges would not change. This is now at 8%.

Guideline value is the minimum price for plots of land  and property (Flats or House) fixed by state government for registration of plot of land & properties. Through periodical changes in guideline values, on which stamp duty & registration fees are based, the state government keeps pace with shifts in market prices.

In Tamil Nadu, the guideline values were last revised in April 1, 2012.  In 2012, revised, new guidelines were announced values. Accordingly, the value of agricultural land in the guide, 270% of household housing guide value has increased by 170% Guideline value. 

Guideline Value relating to  about 1.1 lakhs streets and over 2.90 Crore Survey Numbers / or Subdivision

  

In general Taluk, District, and State-level groups analyzed, each part of the guideline values. Finally, the high value recorded in the document, the document, based on the guideline values increased, by district-level committees.

Using this power, last few months,  many districts registration officers increased the guideline value. Currently in South Chennai, Kancheepuram, Tiruvallur, Vellore, Cuddalore, including various districts,  the guideline values, there would be increased by average 20%.

   Document and records related to the sale of the property declined. Last, 2011 - 12 financial year, 35.18 million were recorded in the documents. The new guide values came into force, the 2012 - 13 fiscal year, 26.90 million were recorded in documents. 

The financial year 2013 -14, at least 26.53 million.  Reduction of the number of documents, the Registration Department has been unable to reach the goal set by the Revenue. Once the values of the new guide, the last two years, the documentary records of the rate dropped to 25%, this will be continued. 

GUIDELINE VALUE & PROPERTY VALUATION

Guideline value register is available with the Registering officer. Ascertain the guideline value of the property and the Stamp Duty, Registration Fees etc, to be paid with the Registering officer.

Guideline Values in respect of all areas in Tamil Nadu have been revised with effect from 1-4-2012.

GUIDELINE SEARCH

From 1-4-2012

From 1-8-2007 To 31-3-2012

From 1-4-2003 To 31-7-2007

From 1-4-2002 To 31-3-2003

Guideline Value
From : 01-04-2012

Choose Zone

Chennai

Coimbatore

Cuddalore

Madurai
   
Salem

Thanjavur
 
Thirunelveli

Trichy

Vellore

Disclaimer:

The Guideline Values hosted in the  http://www.tnreginet.net/ web site are subject to confirm with the Registering Officers concerned.

Guideline Value

Guideline Value relating to 1.85 lakhs streets and over 4 Crores Survey Numbers/Subdivision Numbers are available on this site for query

For Property Valuation,  Click on the Street Name from the Street List, where the property is located.

Please select the zone from the zone list

To check your Zone and District Click Here

 The Inspector General of Registration,
No.100, Santhome High Road, 
Chennai 600 028,
Tamil Nadu,India.

Telephone: +91-44-2464 0160
FAX: +91-44-2464 2774 
E-mail id : grivcell@tnreginet.net

Web Site: http://www.tnreginet.net

Share: