Due to steep increase of guideline value, no need to be paid stamp duty and registration fee for the value of property is upto Rs.25,000 in Tamil Nadu.
The revised guideline value was implemented in the state from April 2012 with mixed reactions from real estate mediators and property sellers and buyers. Among the fixing of guideline value in the state, we could see the guideline value is lower than the current market value and in some places the guideline value is higher than the market value has been fixed by the Government. Consequent upon the revision of guideline value in TN, assumed as the land value is increased.
As per the press release on 4th June, the registration of sale deeds where the value of the property is upto Rs.25,000, no stamp duty and registration fee needs to be paid. In order to protect the poor people from the increase in the guideline values, the ceiling limit for availing stamp duty and registration fee exemption will be raised from Rs.5,000 to Rs.25,000.
This will come into effect from 5th June, 2012.