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Saturday, November 05, 2011

Tamilnadu : Revised guideline value by December, 2011


By on Saturday, November 05, 2011

The revised guideline value of properties all over the Tamailnadu State is expected to be finalised in a month. that is December, 2011

Few  weeks ago, the figures of the draft guideline values were published and public comments invited. They are available at the offices of the sub-registrars across State.

Public Opinion
According to an official of the Registration Department, '' On receipt of public opinion, the guideline values may be fine tuned &  another draft version of the proposed values will be published for public comments. The final version will be made public only after going through this process. The entire exercise is likely to take about a month"

The previous revision of the guideline value  was carried out with effect from  2007, August . Besides, the revision of rates was done twice in the last 10 years, 2002 when urban areas alone were covered and April 2003 when the entire Tamilnadu State was covered.

Talking of the registration of documents during April-September, 2011 the official acknowledges that the rise has been marginal, compared to what it was in the corresponding period last year.

16,21,330 Documents Registered..!

Between April and September this year, about 16,21,330 documents were registered, an increase of about 25,000 documents.

This showed a rise of 1.5% In terms of revenue collection, the Department netted Rs.2,805 crore between April and September this year (2011) against  Rs.2,369 crore during the same period last year, a growth rate of 18.4%.

The growth rate ranged from the minimum of 3.4% in 2004-2005 to nearly  25% next year to about  32% in 2007-2008 to 40% cent in 2010-2011. In the year  2009-2010, the Stamp duty revenue collection saw a negative rate of about 27% when the real estate market was hit by the global slowdown.

In 2010- 11, it was Rs.5,020 crore, an increase of around 32%. As many 32.8 lakh documents were registered, a rise of about 20%.
The registration authorities have assessed this year's total revenue to be nearly Rs.6,493 crore.



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15 comments:

Anonymous said...

Can anybody let me know when this revision in guideline value be effective i.e. date of implementation

Chitra S said...

It May Be 2012 January

Anonymous said...

Thanks a lot for your prompt reply

Anonymous said...

But i have been hearing that guideline value will be revised from 01-dec-2011. Any idea which date it is going to be revised actually.

Hemalatha said...

I heard the increase in this registartion fee or stamp duty is effective dec 1st 2011??? is that true???

Chitra S said...

According to an official of the Registration Department, '' On receipt of public opinion, the guideline values may be fine tuned by December 15, 2011. And it may be force in to January 2012"

No Deposit Loan said...

The institution to prominently display posters detailing laws and punishment against ragging.

bharani said...

I heard from the builder side the guideline value is effective from december 1st 2011, is it correct or when is the implementation rate?

Chitra S said...

According to Mr.Dharmendra Pratap Yadav IAS (Inspector General of Registration),Draft Guideline value final by 2011, December 15 and new Guideline value may force in 2012, Januaray.

m g ramesh said...

the new guideline not only regularise the real estate market, it will cut the black money dealings., and IT also will get more money by way of Capital gains. The Brokers and political investments will die!

m g ramesh said...

the new guideline value in tamil nadu, will regularise the market, as well the IT Going to gain a lot by capital gains., No place for broker and politicians investment games!

Marimuthu Udayakumar said...

Hi All,

I am also heard that guideline value will be increase from Dec,2011.Is it true ?. But some people are saying that according to the public opinion,the guideline value will be increase from jan,2012. Which is true?

Chitra S said...

Dear Marimuthu Udhayakumar sir,
Pl read latest new in MY Reality India, "The guideline value will be increase from jan,2012

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Unknown said...

Hi i have a big confusion can anybody please help me in clarifying my doubt. I have been levied a service tax for the existing guideline value and will be subjected to be revised based on the revised guideline value is the terms and condition my builder has imposed on me... Say for example my current Guidelinevalue is 500 and the planned revision is 3000 .. Please let me how how this will effect the service charge.