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In every state, the authorities fix certain values for properties and buying and selling cannot happen at a rate below this price. This rate is called the guideline value in Tamil Nadu and it is known by different names in different regions. In some states, the guideline value (GV) is also called circle rate or ready reckoner rate or guidance value. Fixing a value becomes important, so as to maintain a steady revenue in the government’s coffers, which is not possible if home buyers and sellers try to evade stamp duty. Hence, the stamp duty is calculated, based on the guideline value or the market value, whichever is higher. In this article, we provide a step-by-step process on how to find the guideline value for a property in Tamil Nadu.
How to find land guideline value in Tamil Nadu?
So far, the guidance value for 2.19 lakh streets and 4.46 billion field numbers / subdivision numbers is available on the department’s website.
Login to the TNREGINET website
To know the guideline value in various districts of Tamil Nadu, all you need to do is to go to the official website of the Registration Department. One of the tabs is ‘Guideline Value’. Feed in the details here. Note that content on the website is available in both Tamil and English. You can change the language as per your preference.
Details required for guideline search
Or, you may also try:
Enter Street or Survey Number, choose the criteria and proceed. Hit ‘Search’ to see the street-wise details. Click on the one you are seeking information about.
See also: All about guideline value in Coimbatore
Latest updates on Guideline Value in Tamil Nadu
After 2003, revisions in the guideline values happened in 2007, 2012 and then, in 2017. Since 2017, there has been no further revision, so far. In fact, in 2017, the state cabinet decided to cut the guideline values by 33%. A committee under the Inspector General of the Registration Department had recommended this reduction.
Registration fee cut, JV registration made mandatory in state
The registration and finance departments of Tamil Nadu are planning to cut the registration charges of joint venture (JV) projects, which forms the bulk of residential and commercial development being undertaken in the state. From 11% of the guideline value, the new registration value may come down to only 2% of the guidelie value for JV projects. This will encourage more and more JV projects to get registered and it would add to the state’s revenue. The plan, however, is not final yet.
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FAQ
When was the Guideline Value in Tamil Nadu last revised?
Guidance Value for properties in Tamil Nadu was last revised in 2017.
What is the impact of guideline value revision on property buyers?
It is believed that any cut in guideline value will bring down property prices. However, property value is also determined by other factors, such as registration charges.
Where can I address queries regarding Guideline Value in Chennai?
You can call on 18001025174 or write to helpdesk@tnreginet.net
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All you need to know about circle rate.
All about guideline value in Coimbatore.
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