Guideline Value for T.T.P Colony

T.T.P Colony guideline value

The current guideline value of T.T.P Colony, located in Menambedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of T.T.P Colony has changed

Over the years, the guideline value of T.T.P Colony has seen several revisions. 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. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,300 per sq.ft.

In terms of percentage changes, from 2017 to 2023, there was a significant increase of 49%. The value then rose by 8% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, making T.T.P Colony's 2024 figure of Rs 1,300 per sq.ft above the median.

• Uthra Nagar: Rs 1,002 per sq.ft (2024)
• T.N.E.B. Colony: Rs 1,700 per sq.ft (2024)
• Thulukanam Street: Rs 1,700 per sq.ft (2024)
• Thulasi Street: Rs 1,700 per sq.ft (2024)
• Thiyagarajar Nagar: Rs 1,002 per sq.ft (2024)
• Vannar Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in T.T.P Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee, at 2%, would be Rs 26,000, leading to a total of Rs 1,17,000. 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 for more details.

Which Sub Registrar Office covers T.T.P Colony?

The T.T.P Colony 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 Menambedu

The guideline value plays a crucial role in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of T.T.P Colony?

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

How has the guideline value changed over the years?

The guideline value of T.T.P Colony has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for T.T.P Colony?

The land classification for T.T.P Colony is Residential Class II Type - I.

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

The Sub Registrar Office covering T.T.P Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated in T.T.P Colony?

Stamp duty and registration fees in T.T.P Colony are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 and a registration fee of Rs 26,000.