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  7. TNREGINET Guideline Value 2023: How to Check Tamil Nadu Land Guideline Value?

TNREGINET Guideline Value 2023: How to Check Tamil Nadu Land Guideline Value?

Updated on: 08 Jan, 2024 06:10 PM

In India, state governments fix a minimum value or minimum rate below which the properties cannot be registered at the time of sale or transfer. This rate can vary depending on the area or location where the property is situated. This minimum value is known by names such as ready reckoner, guideline value, and circle rate. In Tamil Nadu, it is named the Tamil Nadu guideline value by the Tamil Nadu Registration Department. TNREGINET is a platform that has been introduced to digitize various services for property transactions. In this article, we will understand how to check TNREGINET guideline value, its benefits, and a lot more.

Contents

What is TNREGINET?

TNREGINET or the Inspector General of Registration (IGRS), is the official Tamil Nadu Revenue Department portal, specially made for all property-related services. The services provided to the citizens include checking the property guideline value, ascertaining the building value, marriage registration, death registration, and encumbrance certificate online using the TNREGINET platform.

What are the Advantages of TNREGINET?

Given below are the benefits of the TNREGINET portal -

  • TNREGINET has a simple process of registration.
  • It eliminates the need to visit the sub-registrar office as all the services can be accessed from home.
  • It promotes digitization by making use of web cameras, and biometric and retinal user verification.
  • Market valuation can be done in real-time.
  • The application status can be tracked and the process of monitoring the registration status and verifying the information can be simplified.
  • TNREGINET tracks the progress of an application in real time by offering SMS services.
  • The portal has an information system for accounting and reporting.

What is Guideline Value in Tamil Nadu?

The guideline value is the minimum value of a property located in a particular area, listed by the Tamil Nadu State Government. You must know the guideline value to calculate the duties and fees that have to be paid by a property owner in Tamil Nadu.

Guideline value is the minimum property value at which it can be registered as per the State Government. If the property is sold at a higher value, then the registration is done at a higher value. Similarly, if the property is sold below the guideline value, then the registration has to be done at the minimum value.

How to Check Tamil Nadu Guideline Value?

The Tamil Nadu Guideline Value can be checked by following the below-mentioned steps -

  • Step 1. Visit the official portal of TNTREGINET.
  • Step 2. Click on the tab named ‘guide value’ on the homepage.
  • Step 3. Select the date and the time period for which you want to check the values.
  • Step 4. Now enter a few basic details. Select the street or survey number, and select the land classification board or village. Enter other details such as region, office of registrar, land classification, and registration village, and click on the search button.
  • Step 5. The value of the guideline will appear on the screen.

How to Check Jurisdiction for Guideline Value?

Here are the steps to check jurisdiction for guideline value -

  • Step 1. Visit the official TNREGINET portal.
  • Step 2. Click the ‘Help’ tab on the homepage and then click ‘web home application services’.
  • Step 3. Click the ‘Know your jurisdiction’ option.
  • Step 4. In the field office search column, enter your ‘Street Name’ or ‘Village Name’ and click on search.
  • Step 5. You are shown the details related to the jurisdiction like the name and address of the sub-registrar’s office and sub-registerar’s email address.

How to Calculate Building Value on TNREGINET?

You can calculate the building value on TNREGINET through the below-mentioned steps -

  • Step 1. Visit the official TNREGINET portal.
  • Step 2. Scroll down on the homepage and click on the ‘calculation for building value’ option.
  • Step 3. Select the building classification and enter details like building type, calculation period, unit, region/zone, and click on submit.
  • Step 4. The building value is displayed on the screen.

Why is Guideline Value Important?

  • It helps you calculate the overall pros and cons of making a house purchase decision.
  • It performs a crucial function in facilitating the payment of registration and stamp duty fees, aiding both registration authorities and buyers in identifying undervalued properties.
  • This system serves as a deterrent to fraudulent activities, as individuals attempting to evade registration charges can be traced, thereby eliminating scams and corruption in transactions related to land.
  • Furthermore, it serves as a valuable indicator, enabling buyers to comprehend the land value and strategically price their properties in a competitive manner.

What is Land Registration Fees in Tamil Nadu?

Document classification Stamp Duty Charges Registration fee
Purchase document 7% of market value 4% of market value
Donation document 7% of market value 4% of market value
Transaction 7% of the maximum value of the property 4% of the maximum value of the property
Compensation mortgage 1% (for loan amount) maximum Rs. 40,000 1% (for loan amount) maximum Rs. 10,000
Mortgage (Independent) 4% (for loan amount) 1% (for loan amount) up to a max. of Rs. 2,00,000
Selling agreement Rs.20 1% of the transaction amount in the case of an independent sale agreement.
Building contract agreement 1% for the contract amount 1% for the contract amount
Cancellation document Rs. 50 Rs. 50
Documents of partition between family members 1% of market value for each component (maximum Rs. 25,000) 1% of market value per component (maximum Rs. 4,000)
Partition documents between individuals other than family members 4% of the market value of the split component 1% of the market value of the split component
Public authority document for sale of public power Rs. 100 Rs. 10,000
Public authority document for sale of public power (per family member) Rs. 100 Rs. 1,000
Public authority document for other than the sale of public power Rs. 100 Rs. 50
Document of public authority (with transfer amount) 4% per transaction 1% of the transfer amount or Rs. 10,000 whichever is higher
Handing over title documents Maximum Rs. 30,000 for 0.5% loan amount Maximum Rs. 6,000 for 1% loan amount
Release deed between family members 1% of market value (maximum Rs. 25,000) 1% of market value (maximum Rs. 4,000)
Release deed amongst non-family members. 7% of market value 7% of market value
Leasing within 30 years 1% for an additional lease amount Maximum Rs. 20,000 for 1% lease amount
Leasing within 99 years 4% for an additional lease amount Maximum Rs. 20,000 for 1% lease amount
Leasing over 99 years 7% for an additional lease amount Maximum Rs. 20,000 for 1% lease amount
Document of trust (in the absence of immovable property) Rs. 180 1% Corpus Fund

The TNREGINET platform eliminates the difficulty associated with visiting the sub-registrar office for all small property-related tasks. Property owners and property buyers can find out the guideline value at the convenience of their homes. It also helps them arrive at the registration value easily.

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CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.