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 Vallancheri village and falls under the Chengleput Joint II SRO, 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 earliest recorded value was in 2012 at Rs 800 per sq.ft. In 2017, the value decreased to Rs 536 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value rose significantly to Rs 800 per sq.ft, and further increased to Rs 880 per sq.ft in 2024, reflecting a 10% rise from the previous year.

In total, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Vallancheri

Vallancheri village has a total of 134 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 825 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 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, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in transactions and aids in the assessment of taxes related to property transfers.

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)?

Tagore Phase - 1,2 (Tai) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value, which for a 1,000 sq.ft plot at Rs 880 per sq.ft would total Rs 79,200 for stamp duty and registration fees combined.

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

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