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, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this property is Residential Class I Type - II.

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

Over the years, the guideline value for Tagore Phase - 1,2 (Tai) has seen several revisions. The most recent revision, effective from 1 July 2024, sets the value at Rs 880 per sq.ft, up from Rs 800 per sq.ft in 2023. This represents a 10% increase from the previous year. Looking back further, the value was Rs 536 per sq.ft in 2017, which reflects a significant increase of 49% by 2023. In 2012, the value was Rs 800 per sq.ft, indicating a decrease of 33% to the 2017 figure.

The overall change from 2012 to 2024 shows a modest increase of 10%. It's important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in the village is Rs 770 per sq.ft, placing Tagore Phase - 1,2 (Tai) above this median at Rs 880 per sq.ft.

• 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 guideline value of Rs 880 per sq.ft, the total 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. 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 precise calculations.

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, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It is used to determine the stamp duty and registration fees, which are mandatory charges during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure they are prepared for the associated costs.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value, as determined by the guideline value register.

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 2023 to Rs 880 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49% from Rs 536 per sq.ft.

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, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Tagore Phase - 1,2 (Tai)?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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.

Which office handles registrations for properties in Potheri?

The Chengleput Joint II Sub Registrar Office handles registrations for properties in Potheri, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.