surya 17 April 2018

Registration of tnhb flat

Sir,

I've purchased a flat from TNHB in the year 2014 and I have not registered the flat in my name (UDS value of the land is approx Rs.15 lakhs as per their books of accounts) due to financial constraints, now (APR 18) i have approahed them for registeration.

In July 2017, GOTN has slashed the guideline value by 33% and increased the stamp duty to 11% from 8%, based on the present guideline value I have requested the TNHB to register at a land cost of Rs. 10 lakhs approx. at a 11% registration cost. But,they forced me to register the UDS based on the old land value and not based on the present guideline value.

Whether TNHB instruction is holds good or any remedy is available to register at present guideline value.

Incase, GOTN increase the guideline value on the higher side, whether the TNHB or Registrar can follow the old land value for registering the property in the year 2018.

Pl guide me.

regards

Surya.

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2 Replies

R.Ramachandran (Advocate) 17 April 2018

Examine the matter in this way:

1. Suppose the guideline value is Rs. 1000/- and you actually paid Rs. 800/- What rate value would be adopted for the purpose of stamp duty? - In this case obviously Rs. 1000/- even though the actual amount paid by you is only Rs. 800/-.

2. Suppose the guideline value is Rs. 1000/- and you actually paid Rs. 1200/-. What rate would be adopted for the purpose of stamp duty? - In this case it would be Rs. 1200/- as that is the higher amount.

3. In your actual case, even though the guideline value at the time time of registration may be less, since the value as per TNHB for the property(land) in question was approximately Rs. 15 lakhs, you have to pay the stamp duty on that value and not on the guideline value which is less. (This is as per example 2 above).

Therefore, please pay as per TNHB stated value of Rs. approx. 15 lakhs. There is no illegality about it.