Guideline value is an important aspect while registering new or old property in any part of Tamilnadu. It is an important factor to buy the stamp paper or e-stamp for property registration. .
Recently TN Government has announced a 33% reduction in property guideline value of land, which will come into effect from 9th June. This is done in an attempt to bridge the loss in revenue,the State government has hiked the registration fee for conveyance, exchange, gift and settlement of properties to non-family members to 4% with effect from June 9.
The government made this announcement after studying the various states guideline values and their impact. The government took Gujarat as an example to slash down the guideline value.
The real estate industry welcomes this move and they expect an increase in the volume of transactions. The new value would be applicable to all categories of lands. This has been done in favorable of the prospective buyers.
However, some experts expect have raised concerns that it may lead to rise in black money.