Guideline Value for TRANQUIL PHASE-II

Tranquil Phase-II guideline value

The current guideline value of Tranquil Phase-II in Uthandi village, under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Tranquil Phase-II has changed

In the 2023 revision, the guideline value was Rs 4,050 per sq.ft. From 2023 to 2024, there was an increase of 9%, bringing the current rate to Rs 4,400 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Guideline values in Uthandi

Uthandi village has 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, and Tranquil Phase-II's current figure is above this median.

• Tranquil Phase - I: Rs 4,200 per sq.ft (2024)
• Uthandi Colony: Rs 1,700 per sq.ft (2024)
• Varathammal Thottam: Rs 1,100 per sq.ft (2024)
• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Tranquil Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Tranquil Phase-II?

The Sub Registrar Office covering Tranquil Phase-II 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 Uthandi

The guideline value is a crucial factor in property transactions in Uthandi, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when completing a property transaction.

When selling a property, the guideline value ensures that the sale price is reflective of the market standards set by the local authorities. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and avoid potential legal issues.

Frequently asked questions

What is the current guideline value of Tranquil Phase-II?

The current guideline value of Tranquil Phase-II is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 4,050 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 9% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for a property in Tranquil Phase-II?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Tranquil Phase-II?

The Neelankarai Sub Registrar Office covers Tranquil Phase-II, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Tranquil Phase-II?

Tranquil Phase-II is classified as Residential Special Type - III, which indicates its designation for residential development within the area.