Guideline Value for Sweeper Quarters

Sweeper Quarters guideline value

The current guideline value of Sweeper Quarters in Tambaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Sweeper Quarters has changed

The guideline value for Sweeper Quarters has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The subsequent revisions saw an increase to Rs 1,200 per sq.ft in 2023, and finally to the current rate of Rs 1,320 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The value saw a remarkable increase of 200% from 2007 to 2012, and an overall increase of 230% from 2007 to 2024. The fluctuations in guideline values reflect various adjustments made by the authorities over the years.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Sweeper Quarters below this median.

• Tambaram Mayor Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Suthanthrapuram: Rs 1,650 per sq.ft (2024)
• Thangavel Street: Rs 2,200 per sq.ft (2024)
• Subbiah Nagar: Rs 2,200 per sq.ft (2024)
• Subash Nagar: Rs 3,300 per sq.ft (2024)
• State Bank Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sweeper Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sweeper Quarters?

The Sweeper Quarters area is covered by 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 Tambaram

The guideline value plays a crucial role in property transactions in Tambaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sweeper Quarters?

The current guideline value of Sweeper Quarters is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting various revisions over the years.

What is the registration office for Sweeper Quarters?

The registration office covering Sweeper Quarters 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 Sweeper Quarters?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.

What is the land classification of Sweeper Quarters?

Sweeper Quarters is classified as Residential Class II Type - I, which is a designation used to categorize the type of land use in the area.