Guideline Value for Tagore Street

Tagore Street guideline value

The current guideline value of Tagore Street is Rs 2,200 per sq.ft. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Tagore Street has changed

The guideline value of Tagore Street has undergone several revisions over the years. In 2003, the guideline value was Rs 244 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision saw a significant jump to Rs 1,340 per sq.ft, followed by another increase to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,200 per sq.ft. The register has no figure for this street in 2012 and 2002.

From 2003 to 2024, the overall increase in the guideline value is 802%. Notably, the value rose by 283% from 2007 to 2017, and by 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Tagore Street's 2024 figure below this median.

• Tamil Nadu Housing Board: Rs 2,420 per sq.ft (2024)
• Temple Town: Rs 1,980 per sq.ft (2024)
• Thandu Mariamman Koil Street: Rs 2,200 per sq.ft (2024)
• Thanigai Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Sukilachavadi: Rs 2,420 per sq.ft (2024)
• Theradi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Tagore Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Tagore Street?

The Sub Registrar Office that covers Tagore Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on the official value set by the government.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is documented accurately and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Tagore Street?

The current guideline value of Tagore Street is Rs 2,200 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 244 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 802% over this period.

What is the median guideline value in Thiruneermalai?

The median guideline value for streets in Thiruneermalai is Rs 2,420 per sq.ft, which is higher than the guideline value of Tagore Street.

What are the stamp duty and registration fees for Tagore Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Tagore Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.