Guideline Value for T.N.H.B. Phase I & II (Residence)

T.N.H.B. Phase I & II (Residence) guideline value

The current guideline value for T.N.H.B. Phase I & II (Residence) in Ayappakkam village, under the Ambattur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of T.N.H.B. Phase I & II (Residence) has changed

The guideline value for T.N.H.B. Phase I & II (Residence) has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,162 per sq.ft in 2007, marking a change of +365%. In 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting an increase of +115%. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a change of -33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it increased to Rs 2,700 per sq.ft in 2024, which is an increase of +8%.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +980%. It is important to note that there is no figure available in the register for the year 2002 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for T.N.H.B. Phase I & II (Residence) is above this median.

• T.N.H.B. Phase I & II (Commercial): Rs 3,300 per sq.ft (2024)
• Tonakilla Camp Road: Rs 1,300 per sq.ft (2024)
• Thiruverkadu Road: Rs 1,600 per sq.ft (2024)
• Thiru Veedhi Amman Kovil Street: Rs 1,100 per sq.ft (2024)
• Thiruvalluvar street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Veerapathiran street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in T.N.H.B. Phase I & II (Residence)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers T.N.H.B. Phase I & II (Residence)?

The T.N.H.B. Phase I & II (Residence) area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value can differ from the actual sale price of the property.

When registering a property, the authorities will charge the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for T.N.H.B. Phase I & II (Residence)?

The current guideline value for T.N.H.B. Phase I & II (Residence) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, with several revisions in between. The most recent increase was from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024.

What is the land classification for T.N.H.B. Phase I & II (Residence)?

T.N.H.B. Phase I & II (Residence) is classified as Residential Special Type - I. This classification is important for determining the applicable guideline value.

Where is the Sub Registrar Office for T.N.H.B. Phase I & II (Residence) located?

The Ambattur Sub Registrar Office covers T.N.H.B. Phase I & II (Residence) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ayappakkam?

Stamp duty for properties in Ayappakkam is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.