The new market guideline values for immovable properties in the State came into effect from Monday, July 1, except in the case of Villupuram revenue district, owing to the Model Code of Conduct being in effect for the Vikravandi bypoll.
According to a press release, the State-level Valuation Committee, headed by the Inspector General of Registration, on June 29 approved the resolutions passed by the Valuation Sub-Committees, headed by the Collectors in all the districts. Thes sub-committees prepared the draft guideline values under the provisions of the Tamil Nadu (Constitution of Valuation Committee for Estimation, Publication and Revision of Market Value Guidelines of Properties) Rules, 2010.
The sales statistics of properties, including agricultural, residential, and commercial ones, were compiled before the preparation of the draft guideline values. These values were displayed in all the offices of the Registration Department and citizen were given 15 days to submit any objections and suggestions.
After this exercise, the sub-committees reviewed them and corrected the anomalies to finalise the market value guidelines in the districts, the release said.
