Guideline Value for TIME OF INDIA

Time Of India guideline value

The current guideline value for Time Of India in Chemmancheri village, under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Time Of India has changed

The guideline value for Time Of India has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision saw a significant increase to Rs 3,500 per sq.ft, and the most recent 2024 revision has set the value at Rs 3,900 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was an increase of 49%. The transition from 2023 to 2024 reflects an increase of 11%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The guideline value for Time Of India is above the median value of Rs 1,700 per sq.ft. Below are the guideline values for other streets in Chemmancheri:

• Thulukanathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 1,100 per sq.ft (2024)
• Uma Garden: Rs 3,300 per sq.ft (2024)
• Vallabhai Patel Road: Rs 2,800 per sq.ft (2024)
• Thirunavukarasu Garden: Rs 1,100 per sq.ft (2024)
• Varadharaj Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Time Of India

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Time Of India?

The Time Of India area is covered by 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal transfer of ownership. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Time Of India?

The current guideline value for Time Of India in Chemmancheri village is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally set at Rs 3,900 per sq.ft in 2024.

What are the stamp duty and registration fees for Time Of India?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 39,00,000. The stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Time Of India?

The Neelankarai Sub Registrar Office handles registrations for Time Of India, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

The guideline value is used as a benchmark for determining the minimum value for property registration. It is essential for calculating the stamp duty and registration fees during property transactions.