Guideline Value for TAMILNADU HOUSING BOARD (L.I.G & H.I.G)

Tamilnadu Housing Board (L.I.G & H.I.G) guideline value

The current guideline value for the Tamilnadu Housing Board (L.I.G & H.I.G) in Chitthalapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Tamilnadu Housing Board (L.I.G & H.I.G) has changed

Over the years, the guideline value has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Chitthalapakkam

Chitthalapakkam village has a total of 107 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value in the village is Rs 2,900 per sq.ft, placing the Tamilnadu Housing Board (L.I.G & H.I.G) guideline value above this median.

• TAMIL NADU HOUSING BOARD (E.W.S A Type & B Type): Rs 2,700 per sq.ft (2024)
• Tamilselvi Nagar: Rs 2,900 per sq.ft (2024)
• Thaumanavar Street: Rs 2,700 per sq.ft (2024)
• The Breeze By Jones: Rs 3,350 per sq.ft (2024)
• Thendral Nagar: Rs 2,100 per sq.ft (2024)
• Thirukkural Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Tamilnadu Housing Board (L.I.G & H.I.G)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tamilnadu Housing Board (L.I.G & H.I.G)?

The Tamilnadu Housing Board (L.I.G & H.I.G) is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Tamilnadu Housing Board (L.I.G & H.I.G)?

The current guideline value for Tamilnadu Housing Board (L.I.G & H.I.G) in Chitthalapakkam is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% rise. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the classification of the land for Tamilnadu Housing Board (L.I.G & H.I.G)?

The land classification for Tamilnadu Housing Board (L.I.G & H.I.G) is Residential Special Type - III. This classification is important for determining the applicable guidelines and regulations.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration of properties in the area.

How is stamp duty calculated in Chitthalapakkam?

Stamp duty in Chitthalapakkam 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 33,00,000, the stamp duty would be calculated at 7% of this amount.