Guideline Value is the Value of a Property fixed by the Government. Property buyers can not register below the Guideline Value. But, there is no bar for registering the property at Market Value which may be above the Guideline Value. The primary purpose of fixing the Guideline Value is to prevent evasion of Stamp Duty.
In This video, I explain what the guideline value is, how it came into being and also how it is used as well as misused. The Guideline value is an important part of all Real Estate Transactions in Chennai.
Guideline Value is the Value of a Property, below which a property can not be registered. For Land or Plot, the Stamp Duty and Registration are for the Land or Plot. For New Apartments, it’s for the Undivided Share of Land or (UDS). For Resale of Houses and Apartments, the Guideline Value is for the value of the whole property. The Stamp Duty is calculated as a percentage of the Guideline Value or Market Value which ever is high.
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