Guideline Value for Tamilar Nagar

Tamilar Nagar guideline value

The current guideline value of Tamilar Nagar, located in Periakudal village under the AnnaNagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Tamilar Nagar has changed

Over the years, the guideline value for Tamilar Nagar has seen several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, the value dropped to Rs 2,680 per sq.ft in 2017. In 2023, the guideline value rose again to Rs 4,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 4,400 per sq.ft.

From the 2017 revision to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 10%. The overall change from 2007 to 2024 reflects a substantial increase of 267%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value of Tamilar Nagar is below this median.

• Thiru Vi Ka Colony: Rs 15,400 per sq.ft (2024)
• Valliammal School: Rs 14,800 per sq.ft (2024)
• Valliammal Science College (for Women): Rs 14,800 per sq.ft (2024)
• Shenoy Nagar West Park Road: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar West, Gandhi Street: Rs 11,500 per sq.ft (2024)
• Shenoy Nagar West Club Road: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Tamilar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamilar Nagar?

The Sub Registrar Office that covers Tamilar Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Periakudal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property and to accurately calculate the associated fees during the registration process.

Frequently asked questions

What is the current guideline value of Tamilar Nagar?

The current guideline value of Tamilar Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 267% over the years.

What is the land classification of Tamilar Nagar?

Tamilar Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What fees are involved in purchasing property in Tamilar Nagar?

When purchasing property, buyers must pay stamp duty of 7% and a registration fee of 2% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Tamilar Nagar?

The Sub Registrar Office for Tamilar Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.