Land guideline value is a government-determined price at which a property is registered. As such, a property cannot be sold below this guideline value. While it is called as ready reckoner rate and circle rate in other cities, it is commonly referred to as guideline value in Chennai and the entire state of Tamil Nadu.
Read on to know the importance of guideline value in Chennai, how to check it online and shelter charges.
Under an ideal situation, the land guideline value in Chennai can lay out the approximate land or property price. However, in the majority of cases, the market value of land is more than the guideline value.
Having said that, well-establish properties in Chennai are provided with street-based guideline values. This is calculated by considering the property’s survey number.
Further, the guideline also helps prevent stamp duty violations. As such, if the market value is more than the guideline value, then a percentage form of market value is considered stamp duty.
Now, the guideline value of property in Chennai is crucial because it states the minimum value at which a property can be sold. Thus, you will stay assured of knowing the minimum amount you can get by selling your property. It also helps prevent the undervaluation or overvaluation of a property.
You can quickly and conveniently check the government guideline value in Chennai online by following these steps:
Visit the official website of the Tamil Nadu registration department.
Click on guideline value and choose your zone, i.e., Chennai.
Fill in a few details, such as the survey number and street number. In addition, choose your street name, village and sub-registrar. Click on ‘Search’
Besides the govt guideline value in Chennai, you can also get your encumbrance certificate and a few other crucial documents through this website.
The following section mentions the street-wise guideline value in Chennai. We have divided the section into North and South zones:
|Area||Max Price (per sq. ft.)||Min Price (per sq. ft.)|
|Anna Nagar East||Rs. 2,200||Rs. 1,250|
|Anna Nagar West Extn||Rs. 1,750||Rs. 1,250|
|ICF Colony||Rs. 1,500||Rs. 900|
|Jawahar Nagar||Rs. 1,300||Rs. 900|
|Kodungaiyur||Rs. 1,200||Rs. 800|
|Kolathur||Rs. 1,500||Rs. 750|
|Madhavaram||Rs. 1,200||Rs. 900|
|Madhavaram Milk Colony||Rs. 1,000||Rs. 750|
|Manali||Rs. 900||Rs. 700|
|Manali New Town||Rs. 900||Rs. 700|
|Perambur Barracks||Rs. 1,300||Rs. 900|
|Pozhal||Rs. 1,000||Rs. 700|
|Red Hills||Rs. 1,000||Rs. 700|
|Royapuram||Rs. 1,200||Rs. 900|
|Sholavaram||Rs. 900||Rs. 700|
|Tiruvottiyur||Rs. 1,200||Rs. 900|
|Tondiarpet||Rs. 1,500||Rs. 1,000|
|Vyasarpadi||Rs. 1,500||Rs. 900|
|Washermanpet||Rs. 1,350||Rs. 1,000|
|Area||Max price (per sq. ft.)||Min price (per sq. ft.)|
|Adambakkam||Rs. 1,100||Rs. 900|
|Adyar||Rs. 2,200||Rs. 1,500|
|Ashok Nagar||Rs. 2,000||Rs. 1,200|
|Besant Nagar||Rs. 2,800||Rs. 1,800|
|Chitlapakkam||Rs. 1,000||Rs. 700|
|Chromepet||Rs. 1,200||Rs. 800|
|Guindy Industrial Estate||Rs. 1,800||Rs. 1,000|
|K.K. Nagar||Rs. 2,400||Rs. 1,500|
|Kodambakkam||Rs. 1,800||Rs. 1,000|
|Kotturpuram||Rs. 2,000||Rs. 1,150|
|Madipakkam||Rs. 1,000||R. 650|
|Meenambakkam||Rs. 1,400||Rs. 1,200|
|Mylapore HO||Rs. 3,500||Rs. 1,500|
|Nandambakkam||Rs. 1,200||Rs. 900|
|Nandanam||Rs. 2,500||Rs. 1,800|
|Nanganallur||Rs. 1,250||Rs. 750|
|Old Pallavaram||Rs. 1,250||Rs. 750|
|Pallavaram||Rs. 1,200||Rs. 750|
|Pammal||Rs. 900||Rs. 600|
|Pazhavanthangal||Rs. 1,000||Rs. 800|
|Raja Annamalaipuram||Rs. 3,200||Rs. 2,000|
|Saidapet||Rs. 1,200||Rs. 850|
|Selaiyur||Rs. 1,000||Rs. 850|
|St. Thomas Mount||Rs. 1,400||Rs. 1,200|
The list of the highest guideline value by street name in Chennai is mentioned below:
A state levies shelter charges for the rehabilitation of the urban poor and for funding affordable housing for the economically weaker sections of the society. In this regard, the Tamil Nadu government includes shelter charges in the capital city based on the guideline value in Chennai. Find the rates below:
|Project type||Max rate (per sq. mt.)||Min rate (per sq. mt.)|
|IT and commercial buildings||3% of guideline value||1.2% of guideline value|
|Institutional buildings||3% of guideline value||1% of guideline value|
|Industrial and residential buildings||3% of guideline value||1.1% of guideline value|
Thorough knowledge of guideline value in Chennai is crucial before purchasing a property in the city. You can easily find these values on the official website of Tamil Nadu’s registration department.
Ans: When it comes to the guideline value, the state government usually alters it at regular intervals. However, the last revision of the guideline value was made in 2017, when the Tamil Nadu government decreased the guideline value in Chennai by almost 33.33%.
Ans: When purchasing a property in Chennai, you need to pay a stamp duty of 7% on the property’s value. Note that this amount is irrespective of the property’s location. Apart from that, you also need to pay a registration charge worth 1% of the property’s value.
Ans: A lot of factors come together to affect the guideline value, for instance, street number, survey number and development of the location. Evidently, a well-developed area will feature a higher guideline value as opposed to areas with lesser developments.
Ans: If a property’s guideline value is less than its market value, then the property deals will occur mostly in cash. This is because the market value is higher, and the property seller tries to manage the gap between these two components through cash. This results in the accumulation of black money.
Ans: If you have any queries regarding your property’s guideline value, you can address them by reaching out to the Tamil Nadu Registration Department. You can either send them an email or connect with them via call.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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