''The guideline value final draft is expected to be ready by December 15, 2011 for the government to take action. The new law provides for rapid changes in market values. It may be implement in January 2012" said One of the government official in registration department.
Lands across the Tamilnadu depending on agricultural, residential, commercial or industrial, have been classified into as many as above 100 categories for the purpose of fixation of guideline values.
For an example, in the case of agricultural lands, depending on if they are wet lands irrigated by channels, wells, single cropped or double cropped, lands adjacent to highways and rail lines and bus route in which case there is a possibility that they are likely to be converted to industrial land.
35 categories - Wet lands;
21 categories - Dry land ;
20 categories - Residential land ;
8 categories - Commercial use ;
6 categories - Mixed use ;
5 categories - Industrial use.
The draft guideline values have taken into account the market values & patterns. The fast developing suburbs and peripheral areas will see guideline values move higher in line with market patterns.
In the state, land value is unlikely to be below Rs. 1 lakh an acre anywhere. So, low land values have been largely corrected that is increased in many fold.