Guideline Value for HOMELAND ONE

Homeland One guideline value

The current guideline value of Homeland One is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, classified as Residential Class II Type - IV.

How the guideline value of Homeland One has changed

Over the years, the guideline value of Homeland One has seen significant changes. In the 2017 revision, the value was Rs 2,000 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 50% rise. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Nedunkumdram

Nedunkumdram has a total of 75 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 5,300 per sq.ft as per the 2024 revision. The median guideline value for the village is Rs 2,200 per sq.ft, which indicates that the guideline value of Homeland One is above this median.

• Home Land Nemra: Rs 3,300 per sq.ft (2024)
• Homeland One Phase -5: Rs 2,200 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Homeland One?

The Sub Registrar Office that covers Homeland One 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Nedunkumdram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable for buyers to check the current guideline value before proceeding with any property transactions to avoid any surprises regarding fees.

Frequently asked questions

What is the current guideline value of Homeland One?

The current guideline value of Homeland One is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,000 per sq.ft to Rs 3,300 per sq.ft in 2024, which is a total increase of 65% over this period.

What are the stamp duty and registration fees for a property in Homeland One?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Homeland One?

The Tambaram Joint 1 Sub Registrar Office covers Homeland One, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a fair value for legal and taxation purposes.