Guideline Value for HOMELAND ONE PHASE -5

Homeland One Phase -5 guideline value

The current guideline value for Homeland One Phase -5 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Mixed Type - II land.

How the guideline value of Homeland One Phase -5 has changed

In the 2017 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,200 per sq.ft, marking a 10% rise from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes made in the most recent revisions and indicates the current valuation of the property.

Guideline values in Nedunkumdram

Nedunkumdram village has 75 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 330 to Rs 5,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value for Homeland One Phase -5.

• Homeland One: Rs 3,300 per sq.ft (2024)
• Home Land Nemra: Rs 3,300 per sq.ft (2024)
• Homeland One Phase - II: Rs 3,300 per sq.ft (2024)
• Indirani Nagar: Rs 1,320 per sq.ft (2024)
• Isha Anandham: Rs 1,980 per sq.ft (2024)
• Isha Merri Land: Rs 2,660 per sq.ft (2024)

Stamp duty and registration fee for property in Homeland One Phase -5

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Homeland One Phase -5?

The Sub Registrar Office that covers Homeland One Phase -5 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is an important factor during the registration of property transactions in Nedunkumdram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating various fees. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Homeland One Phase -5?

The current guideline value for Homeland One Phase -5 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Homeland One Phase -5 has remained Rs 2,000 per sq.ft from 2017 to 2023, and it increased to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

What is the land classification for Homeland One Phase -5?

The land classification for Homeland One Phase -5 is Mixed Type - II, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Homeland One Phase -5 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be substantial, as outlined in the worked example.