Guideline Value for FARM LAND LAYOUT

Farm Land Layout guideline value

The current guideline value for Farm Land Layout in Thirumudivakkam village, under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This land is classified as Residential Special Type - I.

How the guideline value of Farm Land Layout has changed

Over the years, the guideline value for Farm Land Layout has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it to Rs 1,320 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023, and from 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft. The median value among these streets is Rs 1,320 per sq.ft, which is equal to the guideline value for Farm Land Layout.

• Gangai Amman Koil Street: Rs 1,320 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Doshi Firstnest: Rs 1,320 per sq.ft (2024)
• Harish Nagar Annex: Rs 880 per sq.ft (2024)
• Casa Grand Bloom-III: Rs 2,150 per sq.ft (2024)
• Joyson Nagar (Garden): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Farm Land Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Farm Land Layout?

The Farm Land Layout is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Thirumudivakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the official rates set by the government. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value for Farm Land Layout?

The current guideline value for Farm Land Layout in Thirumudivakkam is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the stamp duty and registration fees for a property in Farm Land Layout?

For a 1,000 sq.ft plot at the guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles the registration of properties in Farm Land Layout?

The registration of properties in Farm Land Layout is handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that properties are registered at an official rate, promoting transparency in the real estate market.