Tamil Nadu Guideline Value:- Indian state governments set a limit below which properties cannot be registered at the time of title transfer in a certain place. Numerous names for this rate exist, such as guideline value, circle rate, ready reckoner rate, etc. Guideline value (GV) usage is more widespread in Tamil Nadu. You can view the guideline value on the TNREGINET portal. It is the Tamil Nadu Registration Department’s official website. Before deciding to purchase a home in Tamil Nadu, potential purchasers must fully understand the GV.
We offer a step-by-step procedure on how to determine a property’s guideline value in Tamil Nadu, which is the basis for calculating the stamp duty on real estate transactions, to assist such buyers. Read below to get detailed information related to the Tamil Nadu Guideline Value like Authorities that Determine TN Guidance Value, Check Tamil Nadu Guideline Value for Property, view the Encumbrance Certificate, and much more
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Tamil Nadu Guideline Value 2024
The estimated market value of a piece of land based on official data is called the guideline value. In a perfect world, guideline value would be a true reflection of market worth. Although it can be more than market value, guideline value is typically less than market value. A property’s worth cannot be less than the guideline value for registration purposes. Avoiding stamp duty evasion is the main goal of putting the guideline value into practice. The following elements are taken into account by the government when setting the guideline value: neighborhood development, prior sales at a given survey number or street, etc.
The guideline value of a property has a significant impact on the choice to purchase it and the subsequent registration of that property. The guideline value can be used by the registering officer to spot properties that are undervalued to avoid paying registration fees. The appropriate District Registrar, Inspector General of Registrations, and Deputy Inspector General of Registration should be informed if the guideline value is excessively higher than the market value so that the disparity can be fixed. In Tamil Nadu, the guidance value (GV) is sometimes referred to as the circular rate, ready reckoner rate, or guidance value.
Authorities that Determine Tamil Nadu Guidance Value
The Department of Stamps and Registration determines the Tamil Nadu Guidance Value. The Inspector General of Registration (IGR) oversees this division. This department is in charge of periodically updating the Tamil Nadu guidance value. The value of the guidance should resemble market value. This action is taken to minimize black money transactions and prevent any negative effects on revenue.
Guideline Value Expressions
Rupees per square foot or per acre serve as the guideline value. For cities and towns, it might be in “per Sq. Ft.” Additionally, for developed layouts, it might be in “per Sq. Ft.” The units for agricultural land and undeveloped lands will be per Acre. In towns and cities, the recommended value may be the same for an entire street or a section of it.
Guideline Versus Market Value
The main distinction between a plot’s market value and its guideline value is that the latter is established by a buyer or seller, whereas the former is established by the government. While several external factors, some of which may be subjective to the seller, have an impact on market value, the guideline value does not change until the government updates it. The guideline and market values must agree with the ideal circumstance. However, this is unusual in India. Typically, the market value is much higher than the guideline value. In some unusual situations, we find that the market value is higher because of inflation, the seller’s interest, and the property’s proximity to important cities.
The property guideline values are established for a predetermined period and are constant in a particular location. The estimations and any revisions to the guideline value are the responsibility of the State Government. According to the streets, standards are defined for zones or established residential neighborhoods. When a property lacks clearly defined streets, survey numbers are used to calculate the guideline value.
Tamilnadu Engirundhum Ennerathilum Scheme
Guideline Value for Tamil Nadu Based on Land Availability
More than 50,000 square miles make up this Indian peninsula’s most southern state. Here is a general breakdown of the state’s land use in percentage terms.
| 36.63% | Residential Areas |
| 33.4% | Small Crops Area |
| 16.55% | Forest Land |
| 1.78% | Large Crops Area |
| Remaining (about 11 %) | For Government |
Importance of Guideline value
For the following reasons, having an established and updated guideline value is necessary:
- It assists you in estimating and weighing the total benefits and drawbacks of buying a home.
- It aids in the understanding and detection of the undervaluation of properties for both buyers and the authorities.
- When it comes to the payment of stamp duty and registration fees, it is significant and serves as an income stream.
- This prevents fraud. This, in part, eliminates corruption and scams involving land-related transactions because those who attempt to avoid paying the registration fees can be found.
- It is also a useful index for assisting buyers in determining the worth of their land so that they may fairly price their homes.
Steps to Check Tamil Nadu Guideline Value for Property
Be careful to check the Tamil Nadu guideline value before purchasing and registering any property in the state. Online services have been launched by the state government to make your work easier. Applicants need to follow the below-given steps to Check Tamil Nadu Guideline Value for Property
- First, go to the official website of TNREGINET.
- The homepage of the website will open on the screen
- Under the Guideline Search tab, two options will be provided to check the Tamil Nadu Guideline Value for Property i.e.,
- Street
- Survey Number
- Select one of the options
- If you click on the Street, then enter the following details:
- Zone
- Sub Registrar Office
- Village
- Street Name
- If you click on the Survey Number, then enter the following details:
- Zone
- Sub Registrar Office
- Village
- Survey Number
- Finally click on the Submit button, to Check Tamil Nadu Guideline Value for Property
Steps to View the Encumbrance Certificate
To view the Encumbrance Certificate, applicants need to follow the below-given steps:
- First, go to the official website of TNREGINET.
- The homepage of the website will open on the screen
- Click on the ‘E-Services’ tab followed by the View EC
- A new page will open on the screen with two options to view the Encumbrance Certificate i.e.,
- Document-wise
- Plot/flat-wise
- Now, select one of the options
- After that, enter all the required details like zone, district, EC start date, end date, survey details
- Now, enter the captcha code and then click on submit to check the encumbrance certificate