Guideline Value for TEMPLE MEADOWS

Temple Meadows guideline value

The current guideline value of Temple Meadows is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in the village of Pazhayaseevaram -A, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of Temple Meadows has changed

The guideline value for Temple Meadows has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 500 per sq.ft. The latest revision in 2024 has maintained this figure, resulting in no change from the previous year. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2017 revision to the current 2024 revision, the guideline value has increased by 49% as well.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Temple Meadows above this median.

• Sri Varadharaja Avenue: Rs 400 per sq.ft (2024)
• sriSRIARUNACHALACITY PHASE-IV: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 350 per sq.ft (2024)
• Unnamed Layout (Farmsite): Rs 400 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Temple Meadows

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Temple Meadows?

The Sub Registrar Office that covers Temple Meadows is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pazhayaseevaram -A

The guideline value plays a crucial role during property registration in Pazhayaseevaram -A. It is used to determine the stamp duty and registration fees that are payable at the time of transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Temple Meadows?

The current guideline value of Temple Meadows is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in both 2023 and 2024, reflecting a 49% increase over this period.

What are the stamp duty and registration fees for property in Temple Meadows?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles property registrations for Temple Meadows?

The Walajabad Sub Registrar Office handles property registrations for Temple Meadows, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the land classification of Temple Meadows?

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