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.
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.