Guideline Value for T.K.S.NAGAR

T.K.S.Nagar guideline value

The current guideline value of T.K.S.Nagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of T.K.S.Nagar has changed

The guideline value for T.K.S.Nagar has undergone several revisions over the years. Starting from Rs 206 per sq.ft in 2002, it increased to Rs 242 per sq.ft in 2003, marking a 17% rise. By 2007, the value saw a significant jump to Rs 500 per sq.ft, reflecting an increase of 107%. The 2012 revision brought the value back up to Rs 1,400 per sq.ft, which was a substantial 180% increase from the previous figure.

In 2017, the guideline value adjusted to Rs 938 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year. The overall increase from 2002 to 2024 is 628%. The register has no figures for the years not mentioned for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. T.K.S.Nagar's current guideline value is below this median.

• T.K.B.Nagar: Rs 1,900 per sq.ft (2024)
• Thuppuravu Paniyalar Kudiyruppu(Sathiyamoorthi Nagar): Rs 2,150 per sq.ft (2024)
• Thulukkana Naicken Street: Rs 3,700 per sq.ft (2024)
• Thiyagi Sathiyamorthi Nagar: Rs 2,800 per sq.ft (2024)
• Thiyagarayapuram: Rs 2,800 per sq.ft (2024)
• Thiryagarajan Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.K.S.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers T.K.S.Nagar?

The Sub Registrar Office that covers T.K.S.Nagar is 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 Thiruvottiyur

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence the final sale price and the associated costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of T.K.S.Nagar?

The current guideline value of T.K.S.Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 206 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, showing an overall increase of 628% over this period.

What is the stamp duty rate in T.K.S.Nagar?

The stamp duty rate in T.K.S.Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for T.K.S.Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including location, land classification, and historical revisions. It is periodically updated to reflect changes in the real estate market.