The Guideline Value for a property, also known as the circle rate, ready reckoned rate, or government valuation, is the minimum value at which a property’s sale or transfer should be registered for calculating stamp duty and registration charges. This value is determined by the local government or relevant authorities to prevent underreporting of property values during transactions. Guideline values can vary based on factors such as the property’s location, type, amenities, and market conditions.
In Tamil Nadu, the Guideline Value for property refers to the minimum value at which a property should be registered for calculating stamp duty and registration charges. Guideline values are determined by the state government and are used to prevent the undervaluation of properties during transactions. To find the guideline value for a property in Tamil Nadu, you can follow these steps:
Steps:
Visit the Official Website: Go to the official website of the Tamil Nadu government’s Registration Department. The guideline value for a property in Tamil Nadu, website address is http://www.tnreginet.gov.in/.
Select Your District: On the website, you’ll find a list of districts in Tamil Nadu. Choose the district where the property is located.
Area/Sub-Registrar Office: Within the selected district, you’ll find a list of Sub-Registrar Offices. Choose the Sub-Registrar Office that corresponds to the area where the property is situated.
Guideline Value Search: Once you’ve selected the appropriate Sub-Registrar Office, you should see options related to Guideline Value and property valuation. Look for the option to search for Guideline Values or property values.
Enter Property Details: You’ll likely be prompted to enter specific details about the property, such as its location, survey number, street name, and property type (residential, commercial, etc.). Enter the details accurately.
View Guideline Value: After entering the property details, the website should display the Guideline Value for the specified property. This value will help you calculate the stamp duty and registration charges when buying or selling the property.
Verify and Compare: It’s good practice to verify the Guideline Value from multiple sources, such as government websites or local offices, to ensure accuracy.
The Guideline Value serves as a reference point to ensure that properties are not undervalued during transactions, which in turn helps the government collect the appropriate amount of stamp duty and registration fees. It also helps prevent tax evasion and promotes transparency in real estate transactions.
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