Guideline Value for TELECOM NAGAR

Telecom Nagar guideline value

The current guideline value for Telecom Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Telecom Nagar has changed

The guideline value for Telecom Nagar has seen significant changes over the years. The earliest recorded figure in the register is from 2002, where it was Rs 44 per sq.ft. This value increased to Rs 53 per sq.ft in 2003, marking a 20% rise. In 2007, the guideline value jumped to Rs 100 per sq.ft, reflecting an increase of 89%. The value then surged to Rs 1,000 per sq.ft in 2012, a remarkable 900% increase. However, it decreased to Rs 670 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 1,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year. The register has no figure for the years not mentioned, confirming that these are the only revisions recorded for this street.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which aligns with the current value for Telecom Nagar.

• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar Phase I: Rs 1,100 per sq.ft (2024)
• Thiru.VI.Ka Nagar: Rs 1,100 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,100 per sq.ft (2024)
• Sri Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Telecom Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telecom Nagar?

The Sub Registrar Office that covers Telecom Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Matthur. It is used as a benchmark to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Telecom Nagar?

The current guideline value of Telecom Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 44 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 2400% over the years.

What is the land classification for Telecom Nagar?

The land classification for Telecom Nagar is Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Telecom Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Telecom Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Telecom Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.