Guideline Value for Tamil Nadu Housing Board

Tamil Nadu Housing Board guideline value

The current guideline value for the Tamil Nadu Housing Board in Thiruneermalai village is Rs 2,420 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Tamil Nadu Housing Board has changed

Over the years, the guideline value of the Tamil Nadu Housing Board has seen significant revisions. The earliest recorded revision was in 2003, where the guideline value was Rs 663 per sq.ft. This increased to Rs 810 per sq.ft in 2007, marking a change of +22%. By 2017, the value rose to Rs 1,474 per sq.ft, which was an increase of +82%. The 2023 revision set the value at Rs 2,200 per sq.ft, reflecting a +49% change from 2017. The most recent revision, effective from 1 July 2024, raised the guideline value to Rs 2,420 per sq.ft, a +10% increase from 2023.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, the guideline value has increased by +265% from Rs 663 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with the median value being Rs 2,420 per sq.ft. The guideline value for this street matches the median at Rs 2,420 per sq.ft.

• Tagore Street: Rs 2,200 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 Tamil Nadu Housing Board

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 detailed calculations.

Which Sub Registrar Office covers Tamil Nadu Housing Board?

The Tamil Nadu Housing Board is covered by 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 critical factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is fair and transparent. When a buyer or seller agrees on a sale price, the guideline value will be used to calculate applicable duties and fees.

During the registration process, the guideline value helps in assessing the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the agreed sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value in Thiruneermalai?

The current guideline value in Thiruneermalai is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 663 per sq.ft to Rs 2,420 per sq.ft in 2024, marking an overall increase of +265%.

What is the role of the Pammal SRO?

The Pammal Sub Registrar Office is responsible for the registration of property transactions in Thiruneermalai, ensuring compliance with local regulations and guidelines.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. This calculation is crucial for understanding the total cost of property transactions.

Where can I find more information about the guideline values?

For more information about the guideline values and other related queries, you can visit the Registration Department's guideline value register at TNReginet.