Guideline Value for Tagore Street

Tagore Street guideline value

The current guideline value of Tagore Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Tagore Street has changed

The guideline value for Tagore Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,650 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 to 2017 period, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a net increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Tagore Street.

• TamilNadu Housing Board: Rs 1,650 per sq.ft (2024)
• Thangal karai St: Rs 1,650 per sq.ft (2024)
• Thangal Street: Rs 1,650 per sq.ft (2024)
• Sundaram Colony Ist Street: Rs 3,850 per sq.ft (2024)
• Sundaram colony 3rd Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 3-rd Main Road: Rs 3,850 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, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the 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 Tagore Street?

The Sub Registrar Office that covers Tagore Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This value helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Tagore Street?

The current guideline value of Tagore Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with a notable increase of 49% from 2017 to 2023.

What is the classification of Tagore Street?

Tagore Street is classified as Residential Class I Type - III under the guideline value register.

Where can I find the Sub Registrar Office for Tagore Street?

The Sub Registrar Office for Tagore Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.