Implementation of new Guideline for Value of Lands in TN
In tamil Nadu, the new guide value for land has been implemented in all areas except Vikravandi. Additionally, there has been a call to reduce the registration fees from 2 percent to 1 percent. According to the tamil Nadu Stamp Rules, the guide value should be adjusted annually. To address this, and to rectify discrepancies in the guide, an assessment committee, headed by the registration department's chief, convened on april 26.
Following the instructions of the Central Evaluation Committee, procedures were established for each district to prepare the draft market guide and solicit public feedback. The market value and sales statistics provided by the public were reviewed, a draft guide value was prepared, and sub-committees passed resolutions to approve the draft guide value.
The draft guideline values were then made available for public viewing in the guideline registers, on the registration department's website, and in the offices of the registrar and district commissioner. The public was given a 15-day period to submit their comments. Subsequently, the district sub-committee met for the third time to consider the public's objections and comments on the draft market value guide. After addressing discrepancies, the new market value guide was approved.