Guideline Value for T.N.H.B (WARD -8)

T.N.H.B (Ward -8) guideline value

The current guideline value for T.N.H.B (Ward -8) in Ninna Karai village is Rs 1,321 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of T.N.H.B (Ward -8) has changed

The guideline value for T.N.H.B (Ward -8) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,321 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for T.N.H.B (Ward -8) is above this median.

• Town Centre M.M.Nagar (Ward -3): Rs 1,760 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Thriuvalluvar Street (Village Colony) (Kr): Rs 440 per sq.ft (2024)
• Udaiyar Street Ninnakkarai (Ward -19): Rs 660 per sq.ft (2024)
• Udaiyar Street (Ward -18): Rs 660 per sq.ft (2024)
• Thondaiman Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in T.N.H.B (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. 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.N.H.B (Ward -8)?

The T.N.H.B (Ward -8) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Ninna Karai

The guideline value plays a crucial role in property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is registered, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline values for the area.

Frequently asked questions

What is the current guideline value for T.N.H.B (Ward -8)?

The current guideline value for T.N.H.B (Ward -8) in Ninna Karai village is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017, which was a decrease from Rs 1,200 per sq.ft in 2012.

What is the land classification for T.N.H.B (Ward -8)?

T.N.H.B (Ward -8) is classified as Residential Special Type - V. This classification indicates the nature of the property and its intended use within the area.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,21,000, the stamp duty would be calculated at 7% of that amount.