Guideline Value in Chennai : How to Check Your Property Guideline Value

In Chennai, Tamil Nadu, the ready reckoner rate or circular rate is called Guideline Value. Knowing the current guideline value is useful for ambitious homebuyers wanting to purchase a house in the city since it helps measure the eventual price of the real estate involved. In addition, the circular rates aid in determining the stamp duty assessed when registering property at the sub-registrar’s office. However, the Revenue Department of the Tamil Nadu government may change the guidelines. As a result, maintaining up-to-date on the most recent circular rates is critical before engaging in any trade.

What is Guideline Value?

The guideline value is the state-mandated minimum value below which a property transaction cannot take place. In an ideal market, the s guideline value should be equal to the market value. However, because of fewer frequent revisions in government data, the guideline value is often less than the market value. There may also be instances where the market value of land is less than the guideline value of land. In such circumstances, the stamp duty must be paid based on the guideline value rather than the market value.

Guideline Value in Chennai

Street name	Guideline value (per sq. ft)	Guideline value (per sq.m)
Thulukanathaman Nagar	Rs 1,474	Rs 15,875
Navganesh Nagar	Rs 1,474	Rs 15,875
Lakshmi Nagar	Rs 2,100	Rs 22,605
Sis Capetown	Rs 2,100	Rs 22,605
Raj Nagar	Rs 1,072	Rs 11,545
Jasmin Nagar Extn	Rs 1,475	Rs 15,875
Anna Street	Rs 804	Rs 8,660
Abirami Nagar	Rs 804	Rs 8,660
Brother Teresa Street	Rs 670	Rs 7,220
Ambattur Redhalls Road	Rs 1474/-	Rs 15,875/-
Arul Nagar	Rs 1,005	Rs 10,825
Ambedkar Street	Rs 670	Rs 7,220
Ananthalakshmi Nagar	Rs 871	Rs 9,380
Ehil Nagar	Rs 1,206	Rs 12,985
MGM Street	Rs 670	Rs 7,220
INTUC Nagar	Rs 804	Rs 8,860
Kamalammal Layout	Rs 1,206	Rs 12,985
Kalaivani Nagar	Rs 804	Rs 8,660
Colony Street	Rs 737	Rs 7,940
Chandra Park Layout	Rs 1,206	Rs 12,885
OVC Street	Rs 670	Rs 7,220
Gumber Street	Rs 737	Rs 7,940
Kamaraj Street	Rs 670	Rs 7,220
Quarry Road	Rs 670	Rs 7,220
Thiruvalluvar Street	Rs 670	Rs 8,660
Senthil Nagar	Rs 804	Rs 8,660
Sivaprakasam Nagar	Rs 1,206	Rs 12,985
DG Nagar	Rs 1,206	Rs 12,985
Bharathidasan Nagar	Rs 670/-	Rs 7,220/-
Nehru Street	Rs 737	Rs 7,940

Why Guideline Value is important in Chennai?

For the following reasons, a set guideline value is required:

• It assists in calculating and estimating the total aspects involved in the home-buying process.
• In Chennai, the guideline value is crucial for determining the stamp duty and registration fees paid on a property. At the same time, it enables purchasers and authorities to discover property undervaluation.
• It is used as an index to help purchasers comprehend the land value so that properties may be priced market-wise.

Calculate the guidance value of properties in Chennai.

In Chennai, the guideline or minimum value of a property is calculated using the method below:

• Value of Property = guideline value in Rs/sq m X Built-up area in square meters
• The kind of property and its location can be used to calculate the guideline value. Then, determine the property’s built-up area and compute its current market value.
• For instance, if a house has 500 square meters of space and the local guideline value is Rs 10,000 per square meter, then
• The worth of the property is Rs (10,000 x 500) or Rs 50 lakhs.

How to check the Guideline value in Chennai?

Follow the steps below to get the guideline value in Chennai in 2023 online.

• Log in to the Tamil Nadu Government’s Registration Department’s official website.
• Find the section to acquire the guideline value or ready reckoner rate in a certain Chennai neighborhood.
• To acquire the circular rate, choose the zone, registrar’s office, village, and street name.

You may also get information about the guideline values without logging in or creating an account on this official webpage. You may also use this website to compute stamp duty, registration fees, and building values.

Details required for looking for guideline value by street name

To locate guideline value by street name on the TNREGINET official website, please follow the steps outlined below:

Step 1: Visit the official TNREGINET website.

Step 2: Go to the ‘Guide value search’ section of the main page.

Step 3: On the section, select street and input information such as area, registrar’s office, village name, and street name.

Step 4: Once the information has been submitted, click the submit button.

Step 5: The necessary information will be presented on your screen.

How to check the encumbrance certificate Guideline Value in Chennai:

The TNREGINET portal allows you to view the encumbrance certificate online. The following is a step-by-step procedure for seeing the encumbrance certificate:

Step 1: Go to the TNREGINET website.

Step 2: Go to ‘Encumbrance Certificate’ and click on ‘View EC’ under the ‘E-services’ option.

Step 3: Fill in the blanks with information such as zone, district, sub-registrar office, EC start date, EC termination date, village, survey number, and subdivision number.

Step 4: Enter the captcha and press the ‘search’ button.

Latest Update Guideline Value in Chennai: 

In a recent update, the Tamil Nadu Registration Department set the minimum guideline value for plots in Coimbatore and Chennai Municipal Corporation at Rs 1,000 per sq ft. In Chennai and Coimbatore, the minimal guideline value has been set for all lands, including residential and agricultural.

The following are the recommended values in various areas:

Guideline value per sq ft	Corporations
Rs 800	Avadi, Tambaram, Hosur, Kancheepuram
Rs 700	Erode, Tirupur, Madurai, Tiruchi, Salem, Nagercoil
Rs 600	Tirunelveli, Dindigul, Vellore, Karur
Rs 500	Thoothukudi, Thanjavur, Sivakasi, Kumbakonam
Rs 300	Cuddalore

• The relevant square feet guideline value for house plots in Coimbatore, Kancheepuram, Tiruvallur, Chengalpattu, Madurai, Erode, Salem, Karur, Krishnagiri, and Taruchi districts is Rs 100. Agricultural properties in these regions, on the other hand, will be marketed at Rs 5 lakh per acre. 

• The recommended value for villages in another district would be Rs 50 per sq ft for house plots and Rs 2 lakh per acre for agricultural holdings.

• Although certain guideline values have risen, the registration and stamp cost has been decreased from 11 percent to 9 percent. However, given the increase in guideline value, the value might be on the higher side. 

Frequently Asked Questions (FAQ’s)