What is guideline value and market value?

What is guideline value and market value?

Property Guideline value is the estimated market value of the property as per the records maintained by the Government. However, in most of the cases, the property guideline value is lower than the market value of the property; but can also be higher than market value in exceptional cases.

How can I check my guideline value in Chennai?

How to Check Guidance Value in Chennai?

1. Go to the Registration Department’s official website i.e. https://tnreginet.gov.in/portal/ .
2. Click on the guideline value tab.
3. Fill in the required details which are street number or survey number.
4. Click on the search option and the street details will be shown on the screen.

How do you determine fair market value of property?

Fair market value is defined as “the price for which you could sell your property to a willing buyer when neither of you has to sell or buy and both of you know all the relevant facts.” To determine your property’s fair market value, the best method is to compare the prices others have paid for something comparable.

What is difference between guidance value and market value?

Guideline values are particularly of an area or locality, stamp duty is levied on that value. It’s job of state revenue department. Market value is determined by market sentiments and mostly depend on buyer how much he is willing to pay.

What is difference between government value and market value?

As already mentioned, the guideline value is set by the government, whereas the market value is decided by the seller. In most cases, the guideline value is much lower than the market value.

Which area in Chennai has highest guideline value?

North Chennai
Located in North Chennai this micro market ranks 301st position for the highest guideline value with Rs. 3000 per sq. ft. as its maximum….Thirumullaivoyal guideline value:

How do you calculate EC?

How to Track Encumbrance Certificate Status

1. Choose “EC Status” under the “Encumbrance Certificate” option available under the “Certificate” menu.
2. Enter the Transaction ID provided to you when you submitted the application, enter the captcha, and click on “Check Status”.