What is guideline value in Tamilnadu?

Guideline Value is the Value of a Property fixed by the Government. Property buyers can not register below the Guideline Value. But, there is no bar for registering the property at Market Value which may be above the Guideline Value. The primary purpose of fixing the Guideline Value is to prevent evasion of Stamp Duty.

What is guideline value of property?

What is Property Guideline Value? Property Guideline value is the estimated market value of the property as per the records maintained by the Government. For a residential area that is not formed into streets, the guideline value of such properties is fixed upon the survey number of the property.

How is guideline value calculated in Chennai?

How to Check Guidance Value in Chennai?

  1. Go to the Registration Department’s official website i.e. https://tnreginet.gov.in/portal/ .
  2. Click on the guideline value tab.
  3. Fill in the required details which are street number or survey number.
  4. Click on the search option and the street details will be shown on the screen.

How is guidance value calculated?

Guidance Value is applicable to both plots and constructed properties. For plots in Bangalore, the Guidance Value is calculated on the grounds of the available land area excluding any constructed property while the value charged for the constructed properties including the land is known as a composite value.

Will registration charges in Tamilnadu?

Registration and stamp duty charges in Tamil Nadu are higher than those in most states. The stamp duty for sales, exchange or gift of property is 7% of the market value and registration charges are 4% of the market value of the property.

What is stamp value of property?

Stamp duty value means any value adopted by any authority of the Central government or a state Government for the purpose of payment of stamp duty for the immovable property.

Which area in Chennai has highest guideline value?

North Chennai
Located in North Chennai this micro market ranks 301st position for the highest guideline value with Rs. 3000 per sq. ft. as its maximum….Thirumullaivoyal guideline value:

Area Max. Price/ Sq.ft. Min. Price/ Sq.ft
Pallavaram 10000 1500
T. Nagar 20000 4000
Mambalam 14000 4000
Adyar 14000 3000

How do you calculate land value?

The current value of the land is obtained based on the price at which a similar property was recently sold in that locality. Where, Land = the cost involved in buying or acquiring the land. Gross Development Value (GDV) = It is a projected final capital value determined while selling land at a specific time.

How is stamp duty calculated in Tamilnadu?

How is stamp duty calculated in Tamil Nadu? Stamp duty is calculated based on the market value or the consideration value of the property, whichever is higher. So, if the value of the property is Rs. 60 lakh, the charge will be 7% of Rs.

How is stamp duty calculated?

Stamp Duty & Property Registration Charges Therefore, the guidance value of the property will be Rs. 5,000 times of 1000 = Rs. 50,00,000. Stamp Duty Charges will be 5.6% of saleable value (Rs.