Guideline Value for TAMIL NADU HOUSING BOARD

Tamil Nadu Housing Board guideline value

The current guideline value for the Tamil Nadu Housing Board in Sholinganallur - 1 village is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Tamil Nadu Housing Board has changed

The guideline value for the Tamil Nadu Housing Board has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This was followed by a significant increase to Rs 3,500 per sq.ft in 2023, marking a 49% increase from the previous revision. The latest revision in 2024 shows another increase to Rs 3,900 per sq.ft, which is an 11% rise from 2023.

Overall, from 2017 to 2024, the guideline value has increased by 66%. It's important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the Tamil Nadu Housing Board's 2024 figure of Rs 3,900 per sq.ft is above the median.

• Tamil Nadu Housing Board Prathana Salai: Rs 3,900 per sq.ft (2024)
• Syamala Garden: Rs 4,400 per sq.ft (2024)
• S.V.Sankar Salai (Near Canal): Rs 1,700 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.V.Natarajan Nagar: Rs 3,900 per sq.ft (2024)
• S.V. Ekambaram Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Nadu Housing Board

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamil Nadu Housing Board?

The Tamil Nadu Housing Board falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to determine the official sale price for tax purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value for Tamil Nadu Housing Board in Sholinganallur - 1?

The current guideline value for Tamil Nadu Housing Board in Sholinganallur - 1 is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 66% over these years.

What is the land classification for Tamil Nadu Housing Board?

The land classification for Tamil Nadu Housing Board in Sholinganallur - 1 is Residential Class I Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Tamil Nadu Housing Board?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.