Circular No. 30103/L2/2023, Minimum Guideline Values
The Head of the Tamil Nadu Registration Department issued Circular No. 30103/L2/2023 dated 18 August 2023, setting minimum guideline values for residential and agricultural land based on location. The circular records that the values were updated directly on the department website and instructs registration officials to check for any guideline value below these minimums.
What the circular does
Circular No. 30103/L2/2023 dated 18 August 2023 sets location based minimum guideline values for residential plots and agricultural land in Tamil Nadu. It follows a Central Valuation Committee meeting held on 16 August 2023.
The Tamil Nadu Registration Department explains that guideline values are fixed per acre for agricultural land and per square foot for residential land. It states that values in many places were much lower than open market values, and that banks generally use guideline values when deciding loan amounts. The minimums were introduced because residential plot buyers could not obtain the required level of bank finance.
Minimum residential values
The minimum residential guideline values per square foot are:
- Chennai and Coimbatore corporations, Rs 1,000.
- Avadi, Tambaram, Hosur and Kancheepuram corporations, Rs 800.
- Erode, Tiruppur, Madurai, Tiruchirappalli, Salem and Nagercoil corporations, Rs 700.
- Tirunelveli, Dindigul, Vellore and Karur corporations, Rs 600.
- Thoothukudi, Thanjavur, Sivakasi and Kumbakonam corporations, Rs 500.
- Cuddalore Corporation, Rs 400.
- Residential plots in all municipal areas, Rs 300.
- Streets in all town panchayat areas, Rs 200.
For villages in Kancheepuram, Tiruvallur, Chengalpattu, Coimbatore, Erode, Salem, Madurai, Krishnagiri, Karur and Tiruchirappalli districts, and survey numbers in town panchayat areas within those districts, the minimum residential value is Rs 100 per square foot.
For villages in other districts, and survey numbers in their town panchayat areas, the minimum residential value is Rs 50 per square foot.
Agricultural values
Circular No. 30103/L2/2023 fixes a minimum agricultural value of Rs 5,00,000 per acre in the ten specifically listed districts. The minimum for other districts is Rs 2,00,000 per acre.
Who needs to act
Property buyers, owners and lenders may need to consider these minimums when checking guideline values or assessing available bank finance. Heads of registration divisions, administrative and audit district registrars, and sub registrars are instructed to verify whether any values remain below the prescribed minimums. The circular states that the revised values were directly updated on the website.
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
What is the minimum guideline value for a residential plot in Chennai?
For areas within Chennai Corporation, the minimum residential guideline value is Rs 1,000 per square foot.
What minimum applies to residential plots in municipal areas?
Residential plots in all municipal areas have a minimum guideline value of Rs 300 per square foot.
What are the minimum agricultural land values?
The minimum is Rs 5,00,000 per acre in the ten districts specifically listed in the circular. It is Rs 2,00,000 per acre in other districts.
Were the minimum values added to the Registration Department website?
Yes. Circular No. 30103/L2/2023 states that the minimum values were directly updated on the website.
