Have you checked the Property guideline value in Tamil Nadu? By Athulya - February 26, 2020 Last Updated at: Feb 26, 2020 47770 The Tamil Nadu Government Launched their “STAR 2.0” Project, to ensure that all their government services are made available on online platforms. This drive towards a Digital India, has, in turn, made it easier for citizens to avail of such services. Since most households now have their own internet connection, by ensuring that all services are available online, the government is able to speed track several processes. One such service, which recently made it online is the property guideline value checking functionality. The registration and stamps department comes under the STAR 2.0 Project. Hence, as stamps and registration are a part of the initiative, citizens can now procure encumbrance certificates online, as well as check property guideline values. Here’s a look at this initiative by the Tamil Nadu registration and stamps department. What is Property Guideline value? Guideline vs Market Value Importance of Guideline Value How to check Property Guideline value in Tamil Nadu? What is Property Guideline value? The Property Guideline value is basically the estimated market value of the property. It is determined as per the Government records and is a value that you must know in order to legally purchase land. The basic difference between the guideline value and the market value of the plot is that the latter is decided by a buyer or seller, whereas the former is set by the government. While the market value depends on various external factors which may be personal to the seller, the guideline value stays constant until it is updated by the government. To find the value of the property, users can first check the guideline value of the property via the TN website, and then add the external costs to it. Guideline vs Market Value As already mentioned, the guideline value is set by the government, whereas the market value is decided by the seller. In an ideal place, both these values must coincide. However, this rarely happens in India. In most cases, the guideline value is much lower than the market value. In certain rare cases, due to inflation, the personal interest of the seller and closeness to large cities, we find that the market value is higher. The property guideline values are fixed for certain periods of time, and stay the same in a certain vicinity. The calculations and further update of the guideline value are done by the State Government. Established residential areas or zones have their guideline values fixed based on their streets. However, when properties do not have well-defined streets, the guideline value is fixed based on survey numbers. Importance of Guideline Value Plays an important role in purchasing decision Important with regards to stamps and registration Helps the registering officer detect undervaluation Prevents people from not paying the required registration charges Gets rid of corruption and scams with regards to land-related deals Helps citizens study land prices so that they can price their property competitively Properties can be sold using stamp duty either equal to or higher than the guideline value Therefore, no property can be registered below its guideline value. Hence, the property guideline value is one of the most important factors that must be considered when buying stamps for property registration. Get free legal advice now How to check the Property Guideline value in Tamil Nadu? The Tamil Nadu government allows you to check the property guideline value online, free of cost. Therefore, people willing to buy land anywhere in Tamil Nadu, do not need to spend extra money on finding out how much the land costs on government records. There are two methods to find the guideline value of a particular property. The two ways are as follows: Via Street Name Via Survey Number Here’s a look at how to find the property guideline value using the survey number. First and foremost, go to the official TNREGINET website. Change the language option into English, if you cannot read Tamil. Locate the “Guideline Search” box from the homepage. Within this dialogue box, enter your zone, village, and survey number. Now submit the form and wait for it to display the value for an acre and hectare. On the left side, you also have an option to search by street name. Enter the street name or a part of it and click on Search. This will bring up details regarding the guideline value such as street name, sub-registrar office, guideline value, and classification. Similarly, you can also find the guideline value by category, such as commercial, residential, industrial and agricultural.