Guideline Value for TAMILKUDIMAGAN NAGAR

Tamilkudimagan Nagar guideline value

The current guideline value of Tamilkudimagan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under Kovilambakkam village and is classified as Residential Class I Type - I by the Pallavaram SRO.

How the guideline value of Tamilkudimagan Nagar has changed

The guideline value for Tamilkudimagan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was reduced by 33% to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Tamilkudimagan Nagar.

• Syndicate Bank Staff Colony: Rs 2,750 per sq.ft (2024)
• Suseela Nagar: Rs 2,750 per sq.ft (2024)
• Subiksha Avenue: Rs 2,750 per sq.ft (2024)
• Subikisha Avenue 1 & 2 Main Road: Rs 2,750 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Tamilkudimagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Tamilkudimagan Nagar?

Tamilkudimagan Nagar is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Tamilkudimagan Nagar?

The current guideline value of Tamilkudimagan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Tamilkudimagan Nagar?

Tamilkudimagan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Tamilkudimagan Nagar?

The Sub Registrar Office covering Tamilkudimagan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property in Tamilkudimagan Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.