Guideline Value for T.E.L.C.Compound

T.E.L.C.Compound guideline value

The current guideline value of T.E.L.C.Compound, located in Chengalpattu Town village under the Chengleput Joint I SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This land is classified as Commercial Special Type - I.

How the guideline value of T.E.L.C.Compound has changed

The guideline value for T.E.L.C.Compound has undergone several revisions over the years. The earliest available figure is from 2007, where it was Rs 355 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking an increase of 886%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase is substantial at 985%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,025 per sq.ft, making the current value of T.E.L.C.Compound above the median.

• T.E.L.C.Compound 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Thimmaraja kula Street: Rs 3,850 per sq.ft (2024)
• Thirukazhukundram Road: Rs 2,475 per sq.ft (2024)
• Vakil Krishnaswamy Street: Rs 2,420 per sq.ft (2024)
• Varadanar Street: Rs 4,125 per sq.ft (2024)
• Veerakudi Velalar Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in T.E.L.C.Compound

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is essential 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 T.E.L.C.Compound?

The T.E.L.C.Compound area falls under the Chengleput Joint I Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for further assistance.

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

The guideline value is a critical factor when buying or selling property in Chengalpattu Town. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of T.E.L.C.Compound?

The current guideline value of T.E.L.C.Compound is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 355 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 985%.

What is the land classification of T.E.L.C.Compound?

T.E.L.C.Compound is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

Where can I find the Chengleput Joint I Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.