Guideline Value for TAGORE PHASE - 1,2 (TAI)

Tagore Phase - 1,2 (Tai) guideline value

The current guideline value for Tagore Phase - 1,2 (Tai) is Rs 880 per sq.ft. This area is located in Konathi village and falls under the Chengleput Joint II SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Tagore Phase - 1,2 (Tai) has changed

Since the 2012 revision, the guideline value for Tagore Phase - 1,2 (Tai) has undergone several changes. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, representing a 49% rise. The latest revision in 2024 has set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year's Rs 800 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, making the current guideline value for Tagore Phase - 1,2 (Tai) above this median.

• Thailavaram 2nd & 3rd Street (Ward-21): Rs 660 per sq.ft (2024)
• Thailavaram Yerikkarai Thideer (Ward-21): Rs 660 per sq.ft (2024)
• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Srm Nagar (Ward-20): Rs 1,320 per sq.ft (2024)
• Thirumurugan Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Thiruvalluvar Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Tagore Phase - 1,2 (Tai)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Tagore Phase - 1,2 (Tai)?

The Sub Registrar Office that covers Tagore Phase - 1,2 (Tai) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Konathi. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Tagore Phase - 1,2 (Tai)?

The current guideline value for Tagore Phase - 1,2 (Tai) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Tagore Phase - 1,2 (Tai)?

The land classification for Tagore Phase - 1,2 (Tai) is Residential Class I Type - II.

Where can I find the Sub Registrar Office for Tagore Phase - 1,2 (Tai)?

The Chengleput Joint II Sub Registrar Office covers Tagore Phase - 1,2 (Tai) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Tagore Phase - 1,2 (Tai)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000, leading to a stamp duty of Rs 61,600.