Guideline Value for TAMILNADU SUM CLEARANCE BOARD

Tamilnadu Sum Clearance Board guideline value

The current guideline value for Tamilnadu Sum Clearance Board in Thiruvanmiyur village is Rs 3,520 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Tamilnadu Sum Clearance Board has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was then revised to Rs 2,144 per sq.ft in 2017, reflecting a decrease of 33%. In 2023, the value increased to Rs 3,200 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

Thiruvanmiyur has a total of 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, and the guideline value for this street is below that median.

• Teachers Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 3rd Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 4th Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony (Jayaram Nagar): Rs 7,150 per sq.ft (2024)
• Thangal Butt Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Tamilnadu Sum Clearance Board

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. It is important to note that the 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 Tamilnadu Sum Clearance Board?

The Tamilnadu Sum Clearance Board is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Thiruvanmiyur. It serves as the benchmark for determining the stamp duty and registration fees payable during the transaction process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all transactions are conducted in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value in Thiruvanmiyur?

The current guideline value in Thiruvanmiyur is Rs 3,520 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 10%, from Rs 3,200 per sq.ft to Rs 3,520 per sq.ft as of the 2024 revision.

What is the stamp duty rate for properties in Tamilnadu Sum Clearance Board?

The stamp duty rate for properties in Tamilnadu Sum Clearance Board is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiruvanmiyur?

The Sub Registrar Office covering Thiruvanmiyur is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the duties are calculated based on the higher of the guideline value or the sale price.