Guideline Value for SUPER MARKET

Super Market guideline value

The current guideline value for Super Market in Tiruttani village, under the Thiruttani SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Commercial Class I Type - I land classification.

How the guideline value of Super Market has changed

The guideline value for Super Market has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 670 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Super Market's 2024 guideline value above this median.

• Subramnia Nagar 4th Street: Rs 1,099 per sq.ft (2024)
• Subramnia Nagar 3rd Street: Rs 1,099 per sq.ft (2024)
• Subramnia Nagar 2nd Street: Rs 1,099 per sq.ft (2024)
• Subramnia Nagar 1st Street: Rs 1,099 per sq.ft (2024)
• Subramaniapuram: Rs 825 per sq.ft (2024)
• Subramanianagar 5th Street: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Super Market

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Super Market?

The Sub Registrar Office that covers Super Market is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tiruttani, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, helping to maintain transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value for Super Market?

The current guideline value for Super Market in Tiruttani village is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value for Super Market has increased by 64%, from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024.

What are the stamp duty rates for property in Super Market?

The stamp duty rate for property in Super Market is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

Which Sub Registrar Office handles registrations for Super Market?

The Thiruttani Sub Registrar Office handles registrations for Super Market, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties in Tiruttani. It is essential for calculating stamp duty and registration fees, ensuring that all parties are aware of their financial responsibilities during a property transaction.