Guideline Value for TULASI NAGAR

Tulasi Nagar guideline value

The current guideline value of Tulasi Nagar, located in Edayanchavadi village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Tulasi Nagar has changed

The guideline value for Tulasi Nagar has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 335 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 199% rise. The 2024 revision saw a minor increase to Rs 1,001 per sq.ft, which reflects a 0% change from the previous year. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 199%. This substantial change indicates a significant adjustment in the valuation of properties in this area over the years.

Guideline values in Edayanchavadi

In Edayanchavadi village, 23 streets fall under the Thiruvottiyur SRO, with guideline values ranging from Rs 1,000 to Rs 1,100 per sq.ft. The median guideline value for these streets is Rs 1,001 per sq.ft, which matches the current value for Tulasi Nagar.

• Unnamalai Nagar: Rs 1,001 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,001 per sq.ft (2024)
• Vetri Nagar: Rs 1,001 per sq.ft (2024)
• Swami Sadananda Nagar: Rs 1,001 per sq.ft (2024)
• Sri Ponniyamman Nagar: Rs 1,001 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Tulasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty, charged at 7%, would be Rs 70,070, while the registration fee at 2% would be Rs 20,020. Therefore, the total cost for stamp duty and registration would be Rs 90,090. It is important to note that 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 Tulasi Nagar?

The Sub Registrar Office that covers Tulasi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Edayanchavadi. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Understanding the guideline value can assist both parties in negotiating a fair price for the property.

Frequently asked questions

What is the current guideline value of Tulasi Nagar?

The current guideline value of Tulasi Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2017 revision, the guideline value increased from Rs 335 per sq.ft to Rs 1,000 per sq.ft in 2023, and then to Rs 1,001 per sq.ft in 2024, marking a 199% increase overall.

Where can I find the registration office for Tulasi Nagar?

The registration office for Tulasi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for properties in Tulasi Nagar?

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 and the registration fee would be Rs 20,020, totaling Rs 90,090.

How is the guideline value determined for Edayanchavadi?

The guideline value for Edayanchavadi is determined by the Registration Department's guideline value register, which reflects the current market conditions and property classifications in the area.