Guideline Value for Taj Nagar

Taj Nagar guideline value

The current guideline value of Taj Nagar, located in Moulivakkam village under the Kunrathur SRO, is Rs 2,450 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Taj Nagar has changed

The guideline value of Taj Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a 120% rise. However, it then decreased to Rs 1,474 per sq.ft in 2017, a drop of 33%. The value continued to rise again to Rs 2,200 per sq.ft in 2023, followed by the current value of Rs 2,450 per sq.ft from the 2024 revision, which represents an 11% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 145%. The transition from Rs 1,000 per sq.ft in 2007 to the current Rs 2,450 per sq.ft reflects the fluctuations in the property values over the years, with a notable increase of 49% from 2017 to 2023.

Guideline values in Moulivakkam

Moulivakkam village has 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, which aligns with the guideline value of Taj Nagar.

• Sulochana Nagar: Rs 2,450 per sq.ft (2024)
• Thangarajapuram: Rs 2,450 per sq.ft (2024)
• Stalin Nagar: Rs 2,000 per sq.ft (2024)
• Sri Sairam Avenue , Sathyanarayanapuram: Rs 2,450 per sq.ft (2024)
• Sri Ranga Nagar: Rs 2,450 per sq.ft (2024)
• Srinivasapuram: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in Taj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, making the total cost Rs 2,20,500. 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 further calculations.

Which Sub Registrar Office covers Taj Nagar?

The Sub Registrar Office that covers Taj Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Moulivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a buyer and seller agree on a sale price, the higher amount between the sale price and the guideline value is used to calculate the stamp duty. This ensures that the transaction is recorded accurately and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Taj Nagar?

The current guideline value of Taj Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,450 per sq.ft in 2024, reflecting an overall increase of 145% over the years.

What are the stamp duty and registration fees for property in Taj Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,50,000, the total fees would amount to Rs 2,20,500.

Which Sub Registrar Office covers the area of Taj Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers the area of Taj Nagar.

What is the land classification of Taj Nagar?

The land classification for Taj Nagar is Residential Special Type - I, which is indicative of its intended use for residential purposes.