Guideline Value for HORIZON APPARTMENT

Horizon Appartment guideline value

The current guideline value of Horizon Appartment in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Horizon Appartment has changed

The guideline value of Horizon Appartment has seen significant changes over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 900 per sq.ft. This figure increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 456%. However, this value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The subsequent revisions saw an increase to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 511%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Horizon Appartment's 2024 figure above the median.

• Ilango Street(Grama Street): Rs 3,700 per sq.ft (2024)
• Indra Nagar: Rs 2,800 per sq.ft (2024)
• Glass Factory Road: Rs 1,900 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 per sq.ft (2024)
• Gangaiyamman Nagar: Rs 3,300 per sq.ft (2024)
• Gangai Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Horizon Appartment

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Horizon Appartment?

The Horizon Appartment is covered by the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Horizon Appartment?

The current guideline value of Horizon Appartment is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with several revisions in between, including a drop in 2017.

What is the registration office for Horizon Appartment?

The registration office for Horizon Appartment is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Horizon Appartment?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 3,85,000.

What is the land classification for Horizon Appartment?

The land classification for Horizon Appartment is Mixed Special Type - I, which is relevant for understanding the zoning and usage regulations in the area.