Guideline value of Property in Tamil Nadu

The guideline value of property in Tamil Nadu is the minimum value at which a property can be registered. It is fixed by the state government and is based on a number of factors, including the type of property, its location, and its age.

The guideline value is used to calculate the stamp duty and registration charges that are payable when a property is registered. It is also used by banks and other financial institutions to determine the loan amount that they are willing to lend on a property.

How to Calculate Guideline Value

The guideline value of a property can be calculated using the following formula:

Guideline Value = (Area of the property in square feet) * (Unit area value)

The unit area value is fixed by the state government and varies depending on the type of property and its location.

To calculate the guideline value of a property in Tamil Nadu, you can visit the website of the Registration Department of Tamil Nadu and use the guideline value calculator.

How Can REMAX Coimbatore Help?

REMAX Coimbatore can help you in the following ways to calculate the guideline value of a property in Tamil Nadu:

• We have a team of experienced real estate professionals who are familiar with the guideline value of properties in different locations in Tamil Nadu.
• We can provide you with the latest guideline value rates.
• We can help you calculate the guideline value of a specific property using the guideline value calculator on the website of the Registration Department of Tamil Nadu.

Benefits of Calculating Guideline Value

There are a number of benefits to calculating the guideline value of a property in Tamil Nadu.

• It helps you to understand the minimum value at which a property can be registered.
• It helps you to calculate the stamp duty and registration charges that are payable when a property is registered.
• It helps you to determine the loan amount that you are eligible for from a bank or other financial institution.
• It helps you to make an informed decision about buying or selling a property.

Conclusion

The guideline value of a property in Tamil Nadu is an important piece of information for anyone who is looking to buy, sell, or invest in property in the state. REMAX Coimbatore can help you to calculate the guideline value of a property and to understand the benefits of doing so.

Additional Information

The guideline value of property in Tamil Nadu is revised every year. The latest guideline value rates were published in March 2023.

The guideline value rates vary depending on the type of property and its location. For example, the guideline value rate for residential property in Chennai is Rs. 5,000 per square foot, while the guideline value rate for residential property in Coimbatore is Rs. 3,000 per square foot.

The guideline value of a property can be used to calculate the stamp duty and registration charges that are payable when a property is registered. The stamp duty rate is 7% of the market value of the property, or the guideline value, whichever is higher. The registration charges are 1% of the market value of the property, or the guideline value, whichever is higher.

The guideline value of a property is also used by banks and other financial institutions to determine the loan amount that they are willing to lend on a property. Banks typically lend up to 80% of the market value of the property, or the guideline value, whichever is lower.

If you are looking to buy, sell, or invest in property in Tamil Nadu, it is important to calculate the guideline value of the property. This will help you to understand the minimum value at which the property can be registered, to calculate the stamp duty and registration charges that are payable, and to determine the loan amount that you are eligible for from a bank or other financial institution.

REMAX Coimbatore can help you to calculate the guideline value of a property and to understand the benefits of doing so.