Guideline Value for TOP CITY

Top City guideline value

The current guideline value of Top City, located in Venpedu village, is Rs 1,330 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Residential Special Type - I.

How the guideline value of Top City has changed

Over the years, the guideline value of Top City has seen significant changes. The 2012 revision set the value at Rs 200 per sq.ft, which increased to Rs 134 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value jumped dramatically to Rs 1,330 per sq.ft, reflecting an increase of 893%. The 2023 revision maintained the same rate of Rs 1,330 per sq.ft, resulting in no change moving into the 2024 revision.

The overall change from the 2012 revision to the 2024 revision is an increase of 565%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Venpedu

In Venpedu, there are 24 streets under the Thiruporur SRO that carry a guideline value for 2024, ranging from Rs 605 to Rs 2,100 per sq.ft. The median guideline value in the village is Rs 1,784 per sq.ft, and the value for Top City is below this median.

• Thangam Enclave: Rs 605 per sq.ft (2024)
• Sri Deepan Balaji Garden: Rs 605 per sq.ft (2024)
• Metro Omr Castle City New Extension Phase VI: Rs 1,330 per sq.ft (2024)
• Metro Omr Castle City New Extension Phase V: Rs 1,330 per sq.ft (2024)
• Metro Omr Castle City New Extension Phase IV: Rs 1,330 per sq.ft (2024)
• Metro Omr Castle City Extn Ph III: Rs 1,784 per sq.ft (2024)

Stamp duty and registration fee for property in Top City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,330 per sq.ft, the total guideline value amounts to Rs 13,30,000. The stamp duty at 7% would be Rs 93,100, and the registration fee at 2% would be Rs 26,600, bringing the total to Rs 1,19,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Top City?

The Sub Registrar Office that covers Top City is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Venpedu. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers use this value to negotiate the sale price, ensuring that it meets or exceeds the guideline value set by the government.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the transaction is officially recognized and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Top City?

The current guideline value of Top City is Rs 1,330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 565%, from Rs 200 per sq.ft in 2012 to Rs 1,330 per sq.ft in 2024.

What is the land classification for Top City?

Top City is classified as Residential Special Type - I under the guideline value register.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for property in Top City?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 93,100.