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Friday , 17 November 2017
Breaking News

Tamil Nadu’s guideline value has been slashed

The Tamil Nadu government has slashed the guideline value for property deed registrations based on recommendations by officials who had studied the effect of such a course of action taken by other states including Gujarat. “In Gujarat, the State government had increased the guideline value in 2011. But, subsequently, it reduced the actual increase by 50%. Our officials visited Gujarat and other places before recommending a decrease in guideline value. Puducherry had also reduced the guideline value,” said an official.

According to an official, who was a member of the team that studied the change of guideline value in other states, said the delegation was convinced that the new rates in Gujarat “helped citizens who were in need of homes and land for business at reasonable rates.”

According to sources in the Registration Department, the teams were convinced that guideline values needed to be rationalised in Tamil Nadu after studying the prevailing guideline values in neighbouring States.

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