Coimbatore Property Guideline Value 2020-21
What is the Guideline Value?
In every state, the state government fixes certain prices for properties, and purchases and sales cannot take place at a rate below this value. This rate is called the Guideline Value in Tamil Nadu and is known by different names in different states. In some states, the guideline value is also known as circle rate or ready reckoner rate. It is the minimum value of an area determined by the state government to calculate stamp duty charges when buying and transferring property and also an essential parameter for calculating the stamp duty levied on the sale or transfer of a property. It varies from locality to locality and is decided based on some criteria. The Tamil Nadu government fixes guideline value through the registrar or sub-registrar office for registration of property or any real estate transactions. Therefore, stamp duty is calculated on the basis of guideline value or market value, whichever is higher.
Factors Affecting Guidance Value In Tamil Nadu
The Guidance value is the market value (consideration value) of the property, which differs across different localities in Tamil Nadu. Compared to the residential properties, the state government charges a higher circle rate for commercial properties. While fixing circle rates in Tamil Nadu, several parameters are taken into consideration by the Tamil Nadu government, including the type of property, the market value of the area, and the current infrastructure situation.
Coimbatore is a city in the South Indian state of Tamil Nadu. It has four revenue districts with 22 taluks and 299 villages connecting 23,626 roads. The city has 11.8% one of the largest zones in Tamil Nadu. Coimbatore is one of the top three cities in Tamil Nadu, which holds high guideline value. The region also has 54 sub-registrar’s offices.
How to Find Guideline Value in Coimbatore?
To know the guidelines price in Coimbatore go to the official website of the registration department and follow these simple steps:
Under the ‘Guidelines search’ option, select your zone, sub-registrar office, and village name from the drop-down menu and the street name, these are all mandatory fields. This will give you more information about revenue district and taluka. In this example, we selected the Coimbatore zone > Anaimalai sub-registrar office > Kottur village > Jayaprakash Street. The search result showed that the region falls under Coimbatore Revenue District and Anaimalai Revenue Taluka.
To check the exact guideline value, go to the ‘Guideline Value’ tab.
Enter other details such as street or survey number, choose the criteria and procedures. Click on ‘Search’ to see the street-wise details. Click on the one you are seeking information about.
What is TNREGINET?
It is an online registration portal for land records in Tamil Nadu. This will help remove the false document list from the record and reduce the rate of duplication. We can easily access government records online through online using the TNREGINET login website.
How To Use TNREGINET Online Portal?
- Open the official website of Tnreginet online in the browser.
- Tap on the user registration option under the registration drop list in the menu bar.
- Select the classification from a citizen, document writer, and lawyer as per your requirement.
- Choose the Username and password according to the conditions of the website and confirm the password in the text box.
- Now, give the required information about your personal, contact, and details which are important.
- Complete the user classification division by giving the State, District, Postal Code, and Address and Mobile Number for OTP.
- Type the security code as given in the box as per the image and OTP in the text fields and click on the complete button.
This will complete your registration process and you can log in with the username and password given in the process.
How to login TNREGINET?
The TNREGINET Login is present in the online portal. Here are the simple steps which will help you to complete the process.
- Open the official website in your browser by typing TNREGINET in the search bar.
- You can see the login page on the right corner of the web page.
- Enter your username and password in the fields given and also type the code from the image.
- Tap on the Login option on the page and this will take you to your account where you can access the things.
Revised Guideline Value in Tamil Nadu 2020-21
Affected by progressively lower realty transactions for years, the Government of Tamil Nadu has decided to effect a 33% reduction in guideline values for registration of properties. This decision was taken in a cabinet meeting and the revised norms came into effect from 12 June 2020.
It is expecting that this move could remove barriers to property transactions in many rural areas, where guideline values were all times higher than market values. To compensate for the potential loss of revenue, the government has increased the registration fee from 1% to 4% for the conveyance, exchange, gift, and settlement in favor of the deeds of non-family members.
Image and data sources: Tamil Nadu Registration Dept Website
