Guideline Value for TRUE VALUE HOMES

True Value Homes guideline value

The current guideline value of True Value Homes is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - I.

How the guideline value of True Value Homes has changed

The guideline value for True Value Homes has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,200 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, reflecting a rise of 400%. However, in 2017, the value decreased to Rs 4,020 per sq.ft, marking a drop of 33%. The value then saw a substantial increase to Rs 6,000 per sq.ft in 2023, and most recently, it has risen to Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and True Value Homes is positioned above this median.

• Trinity Park & Trinity Park Phase II: Rs 4,400 per sq.ft (2024)
• Trinity Garden: Rs 4,400 per sq.ft (2024)
• Toraipakkam Colony: Rs 3,900 per sq.ft (2024)
• T.V.H. Property: Rs 3,300 per sq.ft (2024)
• Union Salai: Rs 3,300 per sq.ft (2024)
• Thiru VI Ka Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in True Value Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty, charged at 7%, would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total charges would be Rs 5,94,000. 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 True Value Homes?

The True Value Homes property falls under 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 Okkiyamthuraipakkam

The guideline value is an essential factor during property registration in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is crucial to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of True Value Homes?

The current guideline value of True Value Homes is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with True Value Homes positioned above this median.

What are the stamp duty and registration fees for True Value Homes?

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000, leading to a stamp duty of Rs 4,62,000 and a registration fee of Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for True Value Homes?

The Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, East Coast Road, is responsible for the registration of properties in True Value Homes.