Guideline Value for TAMIZHAR QUARTERS

Tamizhar Quarters guideline value

The current guideline value of Tamizhar Quarters is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Tamizhar Quarters has changed

The guideline value for Tamizhar Quarters has seen significant changes over the years. Starting from Rs 79 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, marking a 27% rise. The value then jumped to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 300%. By 2012, the value reached Rs 1,500 per sq.ft, which was a remarkable 275% increase from the previous revision. The latest revision in 2024 sets the value at Rs 1,650 per sq.ft, a 10% increase from 2012.

There are no guideline value figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1989%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value for Tamizhar Quarters.

• Tamizhar Quarters Extn.: Rs 1,650 per sq.ft (2024)
• Tankview 1st Street: Rs 1,320 per sq.ft (2024)
• Tankview 2nd Street: Rs 1,320 per sq.ft (2024)
• Tankview Street: Rs 1,320 per sq.ft (2024)
• Syndicate Bank Colony: Rs 2,750 per sq.ft (2024)
• Thaai Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Tamizhar Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 Tamizhar Quarters?

The Sub Registrar Office that covers Tamizhar Quarters 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and accurate financial planning.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as per the established guideline values.

Frequently asked questions

What is the current guideline value of Tamizhar Quarters?

The current guideline value of Tamizhar Quarters is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 79 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1989% over this period.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Tamizhar Quarters Extn. at Rs 1,650 per sq.ft, Tankview 1st Street, Tankview 2nd Street, and Tankview Street at Rs 1,320 per sq.ft, Syndicate Bank Colony at Rs 2,750 per sq.ft, and Thaai Nagar at Rs 1,320 per sq.ft.

Where is the Sub Registrar Office for Tamizhar Quarters located?

The Sub Registrar Office for Tamizhar Quarters is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Tamizhar Quarters?

Stamp duty for properties in Tamizhar Quarters is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.