Own corner plot on main rd junction? Pay higher registration fee

CHENNAI: Corner properties located at the junction of main road and interior streets should only be registered at the guideline value of the main roads and not at the lower value of adjoining streets, said the IG (registration).

As registration charges are calculated based on the value of the properties, calculating the guideline value of the interior street/road results in revenue loss for the government.

The Registration department had issued similar orders in 2006 and 2013 mandating the consideration of main road or main street, though public and some document writers prepare documents based on the guideline value of adjoining streets to reduce registration charges.

In an official letter to sub-registrars, the official noted, “It was found during inspections that for the corner plots located at the junctions where a street or road meets a main road or main street, instead of mentioning the value of the main road/main street, documents are registered by mentioning the lower guideline values of the adjoining streets, resulting in loss of revenue to the government.”

Warning them of action under Rule 16 (1) of the Tamil Nadu Document Writers’ License Rules, 1982, if they fail to prepare the documents as per the guideline values of the main road or main street, the official directed document writers to visit the properties that come for registration.

The department recently hiked the composite value (combined value of apartment and undivided share) of apartments in several parts of the State, which triggered an outcry from realtors who alleged that the fixed composite value was higher than the prevalent market rate, causing the buyers to pay more on registration charges.