Guideline Value for T N H B

T N H B guideline value

The current guideline value for T N H B in Matthur village, under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of T N H B has changed

The guideline value for T N H B has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 3,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 3,300 per sq.ft.

Between the revisions, the changes are notable. From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, positioning T N H B above this median.

• T N H B Commercial Plots: Rs 3,300 per sq.ft (2024)
• Thiru.VI.Ka Nagar: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar Phase I: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)
• Telecom Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in T N H B

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers T N H B?

The T N H B area falls under 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 Matthur

The guideline value is a crucial factor during the registration of property transactions in Matthur. It serves as a reference point for determining the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a baseline for the sale price. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value to ensure fair taxation.

Frequently asked questions

What is the current guideline value for T N H B?

The current guideline value for T N H B is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for T N H B?

The land classification for T N H B is Commercial Special Type - I, indicating its intended use for commercial purposes.

What are the registration fees for property in T N H B?

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 office handles registrations for T N H B?

The Thiruvottiyur Sub Registrar Office handles registrations for T N H B, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.