State governments fix a rate, below which one can’t register a property in a specific location while transferring title. This rate is known by several names, such as ready reckoner rate, circle rate, guideline value, and more. In Tamil Nadu, it is known as a guideline value that is the estimated market value of land as per govt. Record. With the help of guideline value, you will be able to find market value. Now, let me explain how to find market value of land in Tamil Nadu:Steps to find market value of land in Tamil Nadu
First, go to the official Tamil Nadu Registration Department website (https://tnreginet.gov.in/portal/).
Under the “Guideline Search” tab, enter the details like zone, sub-registrar office, village, and street name and click on the “search” option.
After that, you will get details like street name, guideline value (British value), guideline value (metric value), land classification, etc.
You can use the same website to find guideline value by category, wherein depending on the village and sub-registrar office, guideline value is published for land categories such as industrial, residential, commercial, and agricultural with additional classifications.I hope you like my answer on land market value Tamil Nadu.These answers might be helpful to you:How to get duplicate land documents in Tamil Nadu?How to get market value certificate online?
Property market value, also known as guideline value, is calculated to determine how much a property is genuinely worth. This assists us in making successful property purchasing and selling decisions. I will explain how to determine the market value of a property in this post by offering a brief overview of the land value calculator.
How to find land value in Tamil Nadu:
Manjot’s answer can be a good choice if you want to calculate the land value in Tamil Nadu. But you can also use the comparative or belting technique to calculate the value of a property if you have one and want to know how much it has improved over time, or if you are looking to buy one and want to know how much your potential ownership is worth. Other ways for calculating property market value include the land and building method, the development method, and the guidance value method.
Land valuation calculator:
Currently, there are no calculators available to calculate the land value directly. You have to consider the things like the location of the land, surrounding infrastructure, facilities in the area, measurement of the land, soil type of land, etc. And then you can calculate the land value by combining all these factors effectively.
Example to calculate the land value in Tamil Nadu:
Faheem is looking to purchase a home in Tamil Nadu. Consider that the property in question is in a developing neighbourhood, where the market value of properties is now running at Rs. 7,500 per sq. ft., but is negotiable, and where the area's market value is Rs. 6,000 per sq. ft. To avoid profiting with black money, Faheem is required by law to register the property at the market rate negotiated rather than the Guidance Value, which means Faheem will register the property for between Rs. 6,000 and Rs. 7,500 per sq. ft.If Faheem bought the property for Rs. 5,000 per sq. ft. when the Guidance Value was Rs. 6,000 per sq. ft., Arun will have to register the property for Rs. 6,000 per sq. ft., not Rs. 5,000 per sq. ft., because the minimum selling price as stated in the market value of properties in that area was Rs. 6,000 per sq. ft. This aims to avoid profits from black money scams and losses to the state government as a result of property undervaluation.The process of the land value calculator is now clear to you.Verify the property carefully before investing with NoBroker here.Post your property ad for free on NoBroker and get effective deals in minutes.Read More:How to calculate market value of the property?How to find market value of property in Hyderabad?How to calculate market value of property in Mumbai?How to determine market value of resale flat?
Guidance value is the minimum valuation of a property set by government authorities for the calculation of taxes and fees in real estate transactions. Before buying or selling a property, you must be aware of this so that you can fix the rate and save yourself from getting scammed. I am living in Tamil Nadu so I know how to check land value in Tamil Nadu. The process is almost the same for all states, so let me share an example.
How to know the land value in Tamil Nadu?
To know the land value in Tamil Nadu online, you will have to
If you are interested in real estate transactions, you must first know the Tamil Nadu land market value. Land market value is the value or expected price a land will fetch if sold. There is a government portal where you can check the price but if you want, you can use the formula: Land = Gross Development Value - (Construction + Profit + Other Fees).
How to Get Land Market Value Tamilnadu?
To get the land market value in Tamil Nadu, you can visit the government website: TNGov.inor you can use the formula: Land = Gross Development Value - (Construction + Profit + Other Fees), where
Land = the cost of buying or acquiring the land
GDV or Gross Development Value = Final capital value determined while selling the land at a particular time
Construction = Costs for constructing a building
Profit = The cost calculated at the initial stage by a developer to calculate the return he gets by investing in that land
Other Fees = Marketing costs, transaction costs and other related costs
There is another way to find the land value, i.e., by implementing the comparative method. In this method, you need to compare your property’s aspects with other properties’s aspects within the same locality. The aspects that are compared are:
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Steps to find market value of land in Tamil Nadu
How to Find Market Value of Land in Tamil Nadu?
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October 7, 2021
2021-10-07T18:34:54+00:00 2023-11-09T17:14:09+00:00Comment
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