CHENNAI: A division bench of the Madras High Court has stayed a single judge’s order setting aside the revision of guideline values of properties.
The bench consisting of Justices SM Subramaniam and K Rajasekar granted the interim stay on an appeal filed by the state government.
Ordering notice to the respondents, including the Confederation of Real Estate Developers Association of India (CREDAI), to file reply to the appeal, the bench adjourned the matter by four weeks.
The appeal was filed against the order of Justice P Velmurugan, who set aside the March 30, 2023 circular issued by the Inspector General (IG) of Registration, after finding that the government has not followed the statutory provisions on revision of guideline values of properties in revising the guideline values.
Pointing out that the statutory provisions were followed while revising the guideline values in 2017 based on the sub-committee’s report, the judge said procedures including obtaining the report of the sub-committee or experts, fixing the value by the evaluation committee and calling for objections from the public were not followed.