Guideline Value for Tamil Colony

Tamil Colony guideline value

The current guideline value of Tamil Colony in Arani village, under the Arani_Tiruvallur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Tamil Colony has changed

The guideline value for Tamil Colony has undergone several revisions over the years. In 2002, the value was set at Rs 44 per sq.ft, which increased to Rs 49 per sq.ft in 2003. Following that, there was a significant rise to Rs 150 per sq.ft in 2007, and it further increased to Rs 300 per sq.ft in 2012. However, in 2017, the value decreased to Rs 201 per sq.ft. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 300 per sq.ft, showing no change between these two years.

Looking at the changes, from 2002 to 2003, there was an increase of 11%. The jump from 2003 to 2007 was substantial at 206%. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 582%.

Guideline values in Arani

In Arani, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with the median being Rs 300 per sq.ft. Tamil Colony's 2024 figure aligns with this median value.

• Subramani Nagar: Rs 200 per sq.ft (2024)
• Thelungu Colony: Rs 200 per sq.ft (2024)
• Sri S.V. Nagar: Rs 200 per sq.ft (2024)
• Sri Sathya Saibaba Nagar Extension: Rs 300 per sq.ft (2024)
• Sri Sai Avenue: Rs 200 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Colony

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tamil Colony?

Tamil Colony falls under the jurisdiction of the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Arani. 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 registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tamil Colony?

The current guideline value of Tamil Colony is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 44 per sq.ft in 2002 to Rs 300 per sq.ft in 2024, with various increases and decreases along the way.

What is the land classification for Tamil Colony?

Tamil Colony is classified as Residential Class II Type - III, which indicates its zoning for residential purposes.

How is stamp duty calculated for property in Tamil Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Tamil Colony?

The Sub Registrar Office covering Tamil Colony is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.