How to Check the Guideline Value for a Property in Tamil Nadu?
Introduction to Guideline Values (TN)
- The minimum value at which a property can be registered, as determined by the state government, is known as the guideline value.
- If a property is sold for a higher price than the guideline price, the registration will be based on the higher price.
- If you buy a property for less than the guideline value, you’ll have to pay stamp duty and registration fees based on that amount.
Why is Guideline Value Important?
- The value of a guideline is significant because it is the lowest price at which a property can be purchased or sold.
- As a result, there will be a minimum guaranteed value for your property when you sell it. It is an important consideration when buying or selling a home.
- One of the most important sources of revenue for the state is guideline values.
- A higher revenue collection is the result of more registrations.
- A well-developed property or area has a higher value of a guideline, whereas a poorly developed property or area has a lower guideline value.
- The Stamps and Registration Department of any state determines the value of a guideline The value of a guideline, determines the registration value.
- Even if the property was purchased for a lower price, you must register the sale price as the guideline price.
- When a property is purchased for a higher price than the value of a guideline, it is recorded in terms of market value.
- It also helps to prevent property undervaluation or overvaluation.
Guideline Value Tamilnadu 2021: How to find land guideline value in Tamil Nadu?
- The department’s website currently has the guideline value/guidance value for 2.19 lakh streets and 4.46 billion field numbers/subdivision numbers.
How to Check Guidance Value in online?
- The value of a guideline in Chennai can be found on the internet. The street number or survey number of a location determines the value of a guideline, of that location.
- It also depends on how the community develops.
- As previously stated, the value of guidance is higher in more developed areas. value of a guideline
User registration on Tnreginet
(TNREGINET is the Tamilnadu Government online registration portal)
- To use Tnreginet’s services, you must first create an account on the website.
- For user registration on the Tnreginet portal, follow these instructions:
Go to the Tnreginet web portal and select ‘Registration.’
- Fill out the user registration form completely, then click the ‘Complete Registration’ button.
- It is important to note that new users must use any of the registered user’s services on tnreginet guideline value within seven days of creating their user profile. Otherwise, their user ID will be automatically deactivated.
- Existing users must use one of the registered user’s services every three months since their last Tnreginet activity.
- Otherwise, their user ID will be automatically deactivated.
Tnreginet EC: How do I search Tnreginet for an encumbrance certificate?
- The Tamil Nadu government mandated that the Registration Department issue encumbrance certificates (EC) to businesses within three days starting in 2021.
- Encumbrance certificates can be downloaded for free from the Tnreginet government portal. You can also get a certified EC copy via e-mail in three days.
Follow these steps to view Tnreginet EC online:
- Go to the Tnreginet portal and select ‘E-Services.’
On Tnreginet, go to the ‘Encumbrance Certificate’ option and select ‘View EC.’
- The ‘Search Encumbrance Certificate’ screen will appear on the Tnreginet portal. To use Tnreginet’s online EC search, fill in all of the required fields.
How to Check a Property's Guideline Value in Tnreginet
- Tnreginet allows potential buyers and sellers in Tamil Nadu to check property guideline values online.
- On the Tnreginet portal, follow these steps to find out the Tamil Nadu value of a guideline of land and property:
Go to https://tnreginet.gov.in/portal/ to access the Tnreginet portal. On the home page, select ‘Guideline Value.’
On the following page, from 2002 to 2017, the value of a guideline of property in Tamil Nadu will be displayed (this is when the guidance value in Tamil Nadu was last revised).
- Choose the time period for which the Tnreginet value of a guideline should be checked.
- The page ‘value of a guideline & Property Valuation’ will be redirected to you.
- Fill in all of the required information and click ‘Search.’
Tnreginet’s search results will show the Tamil Nadu value of a guideline for each street, based on the zone and registration information you provided.
Tnreginet: Calculation of Building Value
- To know about stamp duty and registration charge payment in Tamil Nadu at the time of property registration, you’ll need to calculate the property value.
- On the Tnreginet portal, you can check the building value calculation.
- At the bottom of the Tnreginet home screen, select the ‘Building value calculation’ option.
- To find out how much your building is worth, fill out the form completely.
Tnreginet: Checking for Jurisdiction
- Only your local government can provide you with information about the land and other related matters.
- Follow these steps on the Tnreginet portal to determine your area’s local jurisdiction:
- Go to the ‘Know your Jurisdiction’ option on the Tnreginet homepage.
- Fill in the value of a guideline value by street name or village name and click the ‘Submit’ button.
Value of a Guideline of Land in Chennai Zones Wise
Guideline Value (Areas in North Zone)
|Area||Min Price||Max Price|
|Anna Nagar East||1250||2200|
|Anna Nagar West Extn||1250||1750|
|Madhavaram Milk Colony||750||1000|
|Manali New Town||700||900|
Guideline Value (Areas in South Zone)
Guindy Industrial Estate
St. Thomas Mount
In Chennai, there has been a Recent Update on the Guideline Value.
- Every year, the government raises the value of the guideline.
- The value of a guideline in Chennai has been reduced by 33.33 percent by the Tamil Nadu government.
- From 1% to 4%, the registration fee has been increased. The stamp duty has also been increased to 8%.
- That means the cost of purchasing property will be higher than before, benefiting the seller rather than the buyer. In Chennai, there are many different types of guidelines.
- It ranges in price from Rs.40 to Rs.23,500 per square foot.
- Chennai is the first city in Tamil Nadu to have the highest value of a guideline, at Rs.23,500 per square foot.
- Chennai has the most streets in Tamil Nadu, accounting for 31.7 percent of the total number of streets in the state.
- The Tamil Nadu government recently established a state shelter fund to rehabilitate the state’s impoverished urban population.
- Shelter charges ranging from 1% to 3% of the property’svalue of a guideline per square meter must be paid by properties with an area greater than 3,000 square meters.
The state of Tnreginet is Forming a Special Investigation Team to Look into Property Registrations.
- The TN government recently announced the formation of a special investigation team (SIT) to investigate and submit a report to the government following allegations of irregularities in the registration of immovable properties in the past.
- To resolve the discrepancies, the tn guideline value government plans to form a high-level committee to restructure the value of a guideline for registration of property sale deeds.
- The value of the tn guideline value had risen sharply in 2012 before being reduced by 33% by the previous government.
- After 2003, the guideline values were revised in 2007, 2012, and finally in 2017. So far, no further revisions have been made since 2017.
- In fact, the state cabinet decided in 2017 to reduce the guideline values by 33%. This reduction had been recommended by a committee appointed by the Registration Department’s inspector-general.
- The registration fee was also increased from 1% to 4% at the same time. In short, stamp duty and property transfers now attract a tax of 7 percent + 4 percent (i.e., 11 percent), up from 7 percent +1 percent (i.e., 8 percent) previously.
- It’s worth noting that any reduction in stamp duty, if accompanied by an increase in the registration fee, would essentially cancel out any savings that a buyer would have received.
- As a result, the cost of purchasing a home is higher.
Overview of Tnreginet Portal
Department of Registration, Government of Tamil Nadu
Citizen of Tamil Nadu
To provide various facilities and services online to the citizens of the state
Online Portal Facility
Tamil Nadu State Government Schemes
How do you calculate land value?
This approach can be used to calculate the land value in India.
- Land = Gross Development Value – (Construction + Profit + Other fees)
- Value of the property = building value + land value.
- The value of the property = (reconstruction cost – depreciation value) + land value
Land = The price of purchasing or acquiring land.
Gross Development Value (GDV) is a projected final capital value calculated when selling land at a given period.
Construction costs are the costs of creating a structure.
Profit = This is a cost that the developer calculates early on to predict the profits he will receive from investing in that land.
Marketing expenditures, transaction costs, and other similar costs are included in other fees.
How do you use Guideline Values to Calculate the Value of a Property in Chennai
The formula for determining a property’s guideline or minimum value in Chennai is as follows:
Property value = Guideline value in Rs/sq m X sq m of built-up area
As a result, determine the guideline values based on the property type and location. Calculate the property’s current market value by determining the built-up or usable area.
For example, if a property is 50 square meters in size and the local value of a guideline is Rs 20,000 per square meter, then:
The value of the property is Rs (20,000 x 50) = Rs 10,00,000/-
- The estimated market value based on government data and analysis is known as a value of a guideline.
- In most cases, value of a guideline must accurately reflect market value. value of a guideline is, in most cases, less than market value, but it can also be more than market value.
- The goal of the value of a guideline is to prevent stamp duty avoidance.
1. Can partition of property be done based on guideline value?
- The only property which can be divided is the coparcenary property. Coparcenery property is ancestral property.
- The self-acquired property of a member is not subject to partition as it belongs to the owner. Self-acquired property is owned by a person hard earned more, gifts or will.
2. What is the difference between guidance value and market value?
- As already mentioned, the value of a guideline is set by the government,
- whereas the market value is decided by the seller.
- In an ideal place, both these values must coincide.
- However, this rarely happens in India.
- In most cases, the value of a guideline is much lower than the market value.
3. When will the first revised guideline value Tamilnadu?
- On September 1, 1981, the real estate guideline value was first revised.
- The Tamil Nadu Stamp (Constitution of Valuation Committee for Estimation, Publication, and Revision of Property Market Value Guidelines) Rules, 2010, went into effect.
- In April 2012, the guideline value was revised for the 16th time
4. Is the fair market value the same as guideline value tamilnadu?
- Under ideal conditions, the property guideline value should reflect the true market value of the property.
- However, in most of the cases, the property guideline value is lower than the market value of the property; but can also be higher than the market value in exceptional cases.
5. What is the guideline value used for?
- It is used for assessing the value of the property.
- It also helps in preventing the undervaluation of the property.
- It is used for calculating stamp duty and registration fees for a particular land.
6. When was the guideline value in Chennai revised?
- The guideline values in Chennai were revised in 2017.
- They are available on the official website of the registration department of Tamil Nadu.
7. Which area in Chennai has the highest guideline value?
Thirumullaivoyal guideline value:
Located in North Chennai this micro market ranks 301st position for the highest guideline value with Rs. 3000 per sq. ft. as its maximum.
8. How many sub-registrar offices are there in Tamil Nadu?
There are 575 sub-registrar offices in the state
9. How do you get tokens in Tnreginet?
- Visit the Official Website of the Inspector General of Registration (IGRS) Tamil Nadu official website Tnreginet i.e. tnreginet.gov.in.
- Now you have to select the Sub Registrar Office and Date of Appointment.