Guideline Value for TamilNadu Housing Board

TamilNadu Housing Board guideline value

The current guideline value for TamilNadu Housing Board in Chitlapakkam village, under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of TamilNadu Housing Board has changed

The guideline value has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,650 per sq.ft.

Between the revisions, there have been notable changes. The increase from 2017 to 2023 was +49%, while the adjustment from 2023 to 2024 was +10%. Overall, from 2012 to 2024, the guideline value has increased by +10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The current guideline value of Rs 1,650 per sq.ft for this street is equal to the median value of the area.

• Tagore Street: 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)
• Thanigai Nagar ( Alex St ): Rs 1,100 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)

Stamp duty and registration fee for property in TamilNadu Housing Board

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TamilNadu Housing Board?

The TamilNadu Housing Board is covered by 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 plays a crucial role during the registration 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 registered, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value in Chitlapakkam?

The current guideline value in Chitlapakkam village under the TamilNadu Housing Board 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 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for TamilNadu Housing Board?

The land classification for TamilNadu Housing Board in Chitlapakkam is Residential Class I Type - III.

Where can I find the Sub Registrar Office for TamilNadu Housing Board?

The Sub Registrar Office for TamilNadu Housing Board is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property transactions?

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