Guideline Value for Taduma Street/Nagar

Taduma Street/Nagar guideline value

The current guideline value for Taduma Street/Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Taduma Street/Nagar has changed

The guideline value for Taduma Street/Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 244%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Taduma Street/Nagar's 2024 figure below that median.

• Swaminathan Street: Rs 3,850 per sq.ft (2024)
• Thadikara Swamy Street: Rs 3,850 per sq.ft (2024)
• Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Taduma Street/Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Taduma Street/Nagar?

The Sub Registrar Office that covers Taduma Street/Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This helps in maintaining consistency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Taduma Street/Nagar?

The current guideline value of Taduma Street/Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 244% over this period.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Swaminathan Street, Thadikara Swamy Street, Subedhar Street, Thiruvalluvar Ist, II nd, IIIrd Lane, Thiruvalluvar Street, and Thulasinghapuram, with values ranging from Rs 3,300 to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Taduma Street/Nagar?

The stamp duty for a property valued at Rs 27,50,000 is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Taduma Street/Nagar?

The Chennai South Joint II Sub Registrar Office handles registrations for Taduma Street/Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.