Guideline Value for TAMIL NAGAR

Tamil Nagar guideline value

The current guideline value of Tamil Nagar, located in Paravallur village under the Ponneri SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Tamil Nagar has changed

Over the years, the guideline value of Tamil Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 150 per sq.ft, which increased to Rs 100 per sq.ft in 2017. Following this, the value rose significantly to Rs 250 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 150%. Overall, from 2012 to 2024, the guideline value has increased by 67%.

Guideline values in Paravallur

In Paravallur, three streets under the Ponneri SRO have a 2024 guideline value ranging from Rs 250 to Rs 400 per sq.ft, with a median value of Rs 400 per sq.ft. Tamil Nagar's 2024 guideline value is below this median.

• Thai Garden: Rs 400 per sq.ft (2024)
• Ghanta Green Park: 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 rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tamil Nagar?

The Sub Registrar Office that covers Tamil Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Paravallur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction is compliant with the current guideline value, as this affects the overall costs involved in the buying or selling process. Accurate knowledge of the guideline value helps in avoiding complications during registration.

Frequently asked questions

What is the current guideline value of Tamil Nagar?

The current guideline value of Tamil Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, and then to Rs 250 per sq.ft in 2023 and 2024. The overall increase from 2012 to 2024 is 67%.

What are the stamp duty and registration fees for properties in Tamil Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Tamil Nagar?

The Ponneri Sub Registrar Office handles registrations for Tamil Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Tamil Nagar?

Tamil Nagar is classified as Residential Class II Type - I, indicating its designated use for residential purposes.