Guideline Value for T.NAGAR

T.Nagar guideline value

The current guideline value for T.Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kunnathur village under the Madurandakam Sub Registrar Office, classified as Commercial Class I Type - I.

How the guideline value of T.Nagar has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49%. However, when comparing the overall change from 2012 to 2024, the guideline value remains unchanged at Rs 100 per sq.ft.

Guideline values in Kunnathur

Kunnathur village has several streets under the Madurandakam SRO with varying guideline values. The 2024 figures for these streets range from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 101 per sq.ft. The guideline value for T.Nagar is below this median.

• Thiraviyam City: Rs 100 per sq.ft (2024)
• V.V.S.Nagar: Rs 101 per sq.ft (2024)
• Shridi Sai Nagar: Rs 151 per sq.ft (2024)
• Sai Mugundha Garden: Rs 100 per sq.ft (2024)
• Fwt Estates Empire City: Rs 200 per sq.ft (2024)
• T Nagar Phase-I: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in T.Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.Nagar?

The Madurandakam Sub Registrar Office covers T.Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kunnathur. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and legally binding, protecting the interests of both parties involved.

Frequently asked questions

What is the current guideline value of T.Nagar?

The current guideline value of T.Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions over the years, with the 2012 figure at Rs 100 per sq.ft, decreasing to Rs 67 per sq.ft in 2017, and then returning to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification for T.Nagar?

T.Nagar is classified as Commercial Class I Type - I, indicating its usage for commercial activities.

Where can I find the Sub Registrar Office for T.Nagar?

The Sub Registrar Office covering T.Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in T.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty at 7% would be Rs 7,000.