Guideline Value for TESCO HEAVEN COLONY

Tesco Heaven Colony guideline value

The current guideline value for Tesco Heaven Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality falls under the Sholinganallur - 1 village and is classified as Residential Class II Type - I within the Neelankarai SRO.

How the guideline value of Tesco Heaven Colony has changed

The guideline value for Tesco Heaven Colony has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,010 per sq.ft. Following this, the most recent 2024 revision has set the guideline value at Rs 3,300 per sq.ft, marking an increase of 64% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The substantial jump from 2017 to 2024 indicates a significant change in the valuation of this property.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Tesco Heaven Colony's 2024 figure above the median.

• Technical Staff Quarters Colony (Near T.N.H.B): Rs 3,300 per sq.ft (2024)
• Tamil Nadu Housing Board Prathana Salai: Rs 3,900 per sq.ft (2024)
• Tamil Nadu Housing Board: Rs 3,900 per sq.ft (2024)
• Syamala Garden: Rs 4,400 per sq.ft (2024)
• S.V.Sankar Salai (Near Canal): Rs 1,700 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Tesco Heaven Colony

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 cost 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tesco Heaven Colony?

The Sub Registrar Office that covers Tesco Heaven Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Tesco Heaven Colony?

The current guideline value for Tesco Heaven Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking a 64% increase.

Are there any years without a recorded guideline value for Tesco Heaven Colony?

Yes, the register has no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Tesco Heaven Colony.

What is the registration office for Tesco Heaven Colony?

The registration office for Tesco Heaven Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Tesco Heaven Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.