Commencement Notification and Constitution of the Valuation Committee
The Government of Tamil Nadu Commercial Taxes and Registration Department, through G.O. Ms. No. 74, Commercial Taxes and Registration (J1), dated 1 June 2010, brought sub-section (2) of Section 2 of the Indian Stamp and the Registration (Tamil Nadu Amendment) Act, 2006 into force from 1 June 2010. Through G.O. Ms. No. 76, Commercial Taxes and Registration (J1), dated 1 June 2010, the department also constituted a Valuation Committee chaired by the Inspector General of Registration to estimate, publish and revise market value guidelines for properties in any area of Tamil Nadu.
What the notifications do
G.O. Ms. No. 74, Commercial Taxes and Registration (J1), dated 1 June 2010, appoints 1 June 2010 as the date on which sub-section (2) of Section 2 of the Indian Stamp and the Registration (Tamil Nadu Amendment) Act, 2006 comes into force.
G.O. Ms. No. 76, Commercial Taxes and Registration (J1), dated 1 June 2010, creates a Valuation Committee under the chairmanship of the Inspector General of Registration. Its purpose is to estimate, publish and revise market value guidelines for properties in any area of Tamil Nadu.
Who may be affected
The Valuation Committee created by the Government of Tamil Nadu is relevant to property buyers, owners and professionals who use market value guidelines. The notification does not itself publish property values. It establishes the committee responsible for the guideline process.
Committee membership
G.O. Ms. No. 76 includes representatives from registration, planning, public works, land administration, local government, taxation, valuation and commerce. Members are:
- Director of Town and Country Planning.
- Chief Engineer (Buildings), Public Works Department.
- Joint Commissioner of Land Administration.
- Commissioner for Municipal Administration.
- Director of Town Panchayats.
- Director of Rural Development.
- Director of Survey and Settlement.
- Representative from Chennai Metropolitan Development Authority.
- Deputy Commissioner, Corporation of Chennai.
- Representative from Income Tax Department.
- Chief Engineer (Irrigation), Public Works Department.
- Additional Inspector General of Registration (Guidelines).
- Representative from Institute of Chartered Valuers.
- Representative from Tamil Nadu Chamber of Commerce and Industries.
The members listed in items (viii), (x), (xii) and (xiv) have a term of two years.
Administration and publication
The Additional Inspector General of Registration (Guidelines) serves as Member-Secretary of the Valuation Committee. The Member-Secretary handles its day-to-day administration and functions, and compiles and publishes market value guideline data in accordance with the committee's decisions.
The Valuation Committee's office is to be located in the office of the Inspector General of Registration or at another place chosen by the committee.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Did the whole Tamil Nadu Amendment Act come into force on 1 June 2010?
The notification specifically appoints 1 June 2010 as the commencement date for sub-section (2) of Section 2 of the Indian Stamp and the Registration (Tamil Nadu Amendment) Act, 2006.
Does G.O. Ms. No. 76 publish new property guideline values?
No property values are listed in the notification. It creates the Valuation Committee responsible for estimating, publishing and revising market value guidelines.
Who chairs the Valuation Committee?
The Inspector General of Registration chairs the Valuation Committee. The Additional Inspector General of Registration (Guidelines) is its Member-Secretary.
Can the Valuation Committee deal with properties anywhere in Tamil Nadu?
Yes. G.O. Ms. No. 76 authorises the committee to handle market value guidelines for properties in any area in the State.
