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 881 per sq.ft. This property is located in Thailavaram village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

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

The guideline value for Tagore Phase - 1,2 (Tai) has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. In 2023, the value increased significantly to Rs 800 per sq.ft, and the latest revision in 2024 has set the value at Rs 881 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram village, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing the 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 881 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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty, charged at 7%, would amount to Rs 61,670, while the registration fee at 2% would be Rs 17,620. Together, the total cost for stamp duty and registration fee would be Rs 79,290. 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 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings within the region.

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 881 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 back to Rs 800 per sq.ft in 2023, and finally to Rs 881 per sq.ft in 2024.

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

Tagore Phase - 1,2 (Tai) is classified as Residential Class I Type - II.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Thailavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,81,000, the stamp duty would be Rs 61,670 at a rate of 7%.