Guideline Value for RENUKA NAGAR

Renuka Nagar guideline value

The current guideline value of Renuka Nagar is Rs 300 per sq.ft, as per the 2023 revision. This area falls under Thozhuvur village and is registered with the Tiruvallur Joint 1 SRO. The land classification for this locality is Residential Class III Type - II.

How the guideline value of Renuka Nagar has changed

The guideline value for Renuka Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. However, in the 2017 revision, it decreased to Rs 201 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the guideline value rise to Rs 300 per sq.ft again, which represents an increase of 49% from the 2017 figure.

Overall, when comparing the 2012 and 2023 revisions, the guideline value has remained unchanged at Rs 300 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Thozhuvur

Currently, there are no specific guideline values available for other streets in Thozhuvur. Renuka Nagar is part of the Tiruvallur Joint 1 SRO, which oversees the registration of properties in this area.

Stamp duty and registration fee for property in Renuka Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, and the registration fee, charged at 2%, would be Rs 6,000. Together, the total cost for stamp duty and registration fee would be Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Renuka Nagar?

The Sub Registrar Office that covers Renuka Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thozhuvur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Renuka Nagar?

The current guideline value of Renuka Nagar is Rs 300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023. This reflects a decrease of 33% from 2012 to 2017 and an increase of 49% from 2017 to 2023.

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

The stamp duty for property in Renuka Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would amount to Rs 27,000.

Which Sub Registrar Office covers Renuka Nagar?

Renuka Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

Is there a guideline value for the year 2024?

There is currently no guideline value available for Renuka Nagar for the year 2024, as the register does not provide a figure for this street.