administration
137 Points
Joined March 2014
Dear Sir, The house being very old (not being maintained properly), the valuer, a qualified engineer, has not given any value for the house and he has given the estimate - the price for the plot (based upon the market environment in this part of the area). Secondly I do not understand what you mean by circle value. In Tamilnadu, generally the properties are Registered according to the Guideline Value (published by the Govt) or the Sale Price,,whichever is HIGHER, and sta(mp duty paid. The guideline value for the property in this area as fixed in 2001 was Rs.2000 per sq feet. On representation from the real estate market, the Govt reduced the Guideline value. According to the revised Order of the Govt the current value of the property is Rs. 1750. Hope I have explained the position clearly. I am serious to know the Capital gain relating to the above. The other details are in the post submitted earlier. It is not my intention to waste anybody's time. If possible you can help me.