Guideline Value for EARTH

Earth guideline value

The current guideline value of Earth, located in Chempakkam village, is Rs 1,000 per sq.ft. This value is effective from the 2024 revision, which is managed by the Thiruporur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Earth has changed

Looking at the revisions over the years, the guideline value for Earth has seen several changes. In 2012, the value was set at Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 1,000 per sq.ft. The 2024 revision has maintained this rate, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Thus, the only revisions that impact the current guideline value are from 2012, 2017, 2023, and 2024, with the overall change from 2012 to 2024 being 0%.

Guideline values in Chempakkam

In Chempakkam, there are five streets under the Thiruporur SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 2,750 per sq.ft. The median value across these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value of Earth.

• Sri Meenatchi Garden: Rs 200 per sq.ft (2024)
• Red Coral Avenue: Rs 1,000 per sq.ft (2024)
• Sangamam: Rs 2,750 per sq.ft (2024)
• Sumangali Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Earth

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Earth?

The Earth area falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Chempakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chempakkam. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is considered to determine the applicable fees. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Earth?

The current guideline value of Earth is Rs 1,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023 and 2024, showing no overall change from 2012 to 2024.

What is the land classification for Earth?

The land classification for Earth is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Earth?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office manages the registration for Earth?

The registration for Earth is managed by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.