Guideline Value for T.P.Scheme Road

T.P.Scheme Road guideline value

The current guideline value of T.P.Scheme Road in Tondaiarpet village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Royapuram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of T.P.Scheme Road has changed

The guideline value for T.P.Scheme Road has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 100%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from 2012.

Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing T.P.Scheme Road's 2024 figure below that median.

• Trichy Chinnaswamy Street: Rs 1,300 per sq.ft (2024)
• Udaiyar Egappan Street: Rs 1,300 per sq.ft (2024)
• Ulagappa Mesthri Street: Rs 1,300 per sq.ft (2024)
• Ullaramman Koil Street: Rs 1,600 per sq.ft (2024)
• Thulasingam Street: Rs 2,200 per sq.ft (2024)
• Throupathy Amman Koil Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in T.P.Scheme Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers T.P.Scheme Road?

The Sub Registrar Office that covers T.P.Scheme Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the transaction is taxed fairly based on the current market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of T.P.Scheme Road?

The current guideline value of T.P.Scheme Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What is the land classification for T.P.Scheme Road?

T.P.Scheme Road is classified as Residential Class II Type - I under the guideline value register.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in T.P.Scheme Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.