Guideline Value for TAMIL NAGAR

Tamil Nagar guideline value

The current guideline value of Tamil Nagar, located in Varanavasi village under the Walajabad SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Tamil Nagar has changed

Over the years, the guideline value of Tamil Nagar has undergone several revisions. The most recent revision in 2024 maintains the guideline value at Rs 400 per sq.ft, which is the same as the previous revision in 2023. Prior to that, the 2017 revision set the value at Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 400 per sq.ft, indicating a decrease of 33% to the 2017 figure.

From 2012 to 2024, the overall change in the guideline value is 0%, as the value returned to Rs 400 per sq.ft in both the 2012 and 2024 revisions. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Varanavasi

In Varanavasi, the guideline value for Tamil Nagar is consistent with other streets under the Walajabad SRO. The following are the guideline values for other streets in Varanavasi:

• Alamelu Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, resulting in Rs 28,000, while the registration fee is 2%, totaling Rs 8,000. Therefore, the combined total for stamp duty and registration fee is Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamil Nagar?

The Sub Registrar Office that covers Tamil Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varanavasi. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for accurate budgeting during property transactions. It ensures that all parties are aware of the financial obligations that come with property registration in Tamil Nagar.

Frequently asked questions

What is the current guideline value of Tamil Nagar?

The current guideline value of Tamil Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in 2023 and 2024, while it was Rs 268 per sq.ft in 2017. The value was also Rs 400 per sq.ft in 2012, indicating no overall change from 2012 to 2024.

What is the land classification for Tamil Nagar?

Tamil Nagar is classified as Residential Class I Type - III, which is important for understanding its usage and development potential.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at Rs 400 per sq.ft, the total guideline value is Rs 4,00,000, leading to a total fee of Rs 36,000.