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Naga Balaji (Law Student.)     10 November 2011

Tamilnadu govt arbitarily increasing guideline value

It is true that Guide line value is always lower than the Market Value to some percentage.

But now Tamilnadu Goverment all of sudden had sent a proposed guideline value which is So so excess than the present marke value. In some places the guideleine value proposed is 25 times higher(2500%). Tamilnadu Goverment just to increse the revenue had adopted such an extreme method.

It seems time limit is given for showing the objections.

In this circumstances many persons are sending objections to the concerned. 

 

What is the legal validity of this decission?

How should legally challenge this decission?

Under which act the guideleine value is increased by Goverment?

How should we approach the court regarding the same?



Learning

 1 Replies

SHAHUL HAMEED K (ADVOCATE)     12 November 2011

Guideline value has no statutary backing.If you are not accepting it still your document is registered (at you value) but it will be reffered to the revenue authorities for assessing the market value.Bassed on the value fixed by the revenue authorities(the collectors under the Stamp Act) the stamp duty and registration fees are collected. After completion of this process your document will be issued to you.


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