Recent Changes in Land Registration
According to the recent changes and updates in stamp duty and land registration cost in TamilNadu, it is a wise option to set aside a sum exclusively for this fee while buying land, as it is a mandatory one for both men and women in the state, as compared to the other states. The State Government sets the minimum amount of property registration charges levied while buying a property and increased this value by 10 percent in July 2024, compared to the 2023 rates.
Latest Changes in Land Registration Cost in TamilNadu
For a person who is looking to buy land in Tamil Nadu or any other state in India, you must be aware of some important concepts regarding the registration charges in TamilNadu. They come up with a figure based on the guidelines laid for the transaction value of the land or property, whichever is lower. If for instance, the guideline value is 40 lakhs, and if you buy a property costing 30 lakhs, he must pay stamp duty for the guideline value which is 40 lakhs. Stamp duty can be understood as a state government levies tax, while registration fees are collected by the registration department to have clear land transactions and safeguard you from fraud happening in terms of illegal land acquisition.
Stamp duty
Registration charges
There are instances where the stamp duty and registration charges in Tamil Nadu where costs maybe on the higher side, during such instances, you can follow a few tips these to mitigate these costs when investing in a Sembulam project:
With the current prices running, you may look at ways to mitigate the rising prices of land registration fees Tamil Nadu has come up with, where there are chances of multiple revisions. By following our tips and advice, ensure to make the most of your land investment and continue to stay informed by logging into our website to know more the regulations and Sembulam projects.
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