Guideline value in Chennai

Guideline value (GV) is the government-decided minimum value at which the property has to be registered in the official records. While it known as circle rate and ready reckoner rates in other states, the term GV is more common in Tamil Nadu and its capital Chennai included. In this article, we examine how to check the guideline value Chennai for properties in the city.

See also: All about Guideline Value in Tamil Nadu

How to find land guideline value in Chennai?

Across Tamil Nadu, the guideline value for 2.19 lakh streets and 4.46 billion field numbers / sub-division numbers are already available online.

Step 1: Go to the official website of the Registration Department, known as TNREGINET website.

Or, you may also try by clicking on the ‘Guide value’ tab.

Enter other details such as, street or survey number, choose the criteria and proceed. Hit ‘Search’ to see the street-wise details. Click on the one you are seeking information about.

Check out properties for sale in Chennai

Services available on the Tamil Nadu Registration website

• View encumbrance certificate.
• Calculate building value.
• Create document abstract for draft deed, encumbrance certificate, or certified copy.
• Track application status of encumbrance certificate.

Is information available on the Registration Department’s website updated?

Shelter charges and guideline value in Chennai

Recently, the Tamil Nadu government constituted a state shelter fund to rehabilitate the urban poor. New commercial, industrial, residential and institutional buildings across the state, with a floor space of over 3,000 sq metres, will be liable to pay shelter charges of between 1% and 3%, based on their guideline value per sq metre. The Tamil Nadu Town and Country Planning (Levy of Shelter Charges and State Shelter Fund) Rules, 2020, will be applicable to areas covered by the provisions of the Tamil Nadu Town and Country Planning Act, 1971.

Registration fee slashed

In a bid to encourage home buying and registrations, the registration and finance departments of Tamil Nadu are planning to slash the registration charges on joint venture (JV) projects, which form the bulk of residential and commercial developments being undertaken in the state, from 11% of the guideline value to only 2%. The idea is to encourage more JV projects to get registered, as these would add to the state’s revenue. The feasibility study for this is ongoing.

Check out property prices in Chennai

Guideline value in Chennai 2023

How to calculate guidance value in Chennai?

The guideline in Chennai is calculated based on the following formula:

Property value = Guideline value in Rs per sqm X built-up area in sqm

The guideline value is determined based on the property type and location. Find the property’s built-up area and calculate its current market value.

For example, the area of a property is 600 sqm and the guideline value in that locality is Rs 10,000 per sqm

Property value = Rs (10,000 x 600) = Rs 60 lakh

Guideline Value in Chennai: Latest updates

TN Registration Department fixes minimum guideline value in Chennai, Coimbatore

September 2023: The Tamil Nadu Registration Department recently fixed the minimum guideline value at Rs 1,000 per sqft for plots including residential and agricultural plots, in Coimbatore and Chennai Municipal Corporation. The square foot guideline value for housing plots for villages in Coimbatore, Kancheepuram, Tiruvallur, Chengalpattu, Madurai, Erode, Salem, Karur, Krishnagiri and Taruchi districts will be Rs 100. Agricultural lands in these areas will be priced at Rs 5 lakh per acre. The guideline value in villages of another district will be Rs 50 per sqft for housing plots and Rs 2 lakh per acre for agricultural lands.

FAQs