Guideline Value for Tata Nagar Extn.

Tata Nagar Extn. guideline value

The current guideline value of Tata Nagar Extn. is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vijayanallur village, under the jurisdiction of the Redhills Sub Registrar Office. The land classification for this street is Residential Class II Type - I.

How the guideline value of Tata Nagar Extn. has changed

The guideline value for Tata Nagar Extn. has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The following revision in 2023 saw a significant increase to Rs 500 per sq.ft, and the most recent revision in 2024 raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. The overall increase from 2007 to 2024 amounts to 83%, reflecting the changes in the guideline value over the years.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 540 per sq.ft, placing Tata Nagar Extn. above this median at Rs 550 per sq.ft.

• Tata Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Garden: Rs 440 per sq.ft (2024)
• S.K. Nagar: Rs 440 per sq.ft (2024)
• Siva Sakthi Nagar Annexe: Rs 550 per sq.ft (2024)
• Sivasakthi Nagar: Rs 550 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Tata Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Tata Nagar Extn.?

The Sub Registrar Office that covers Tata Nagar Extn. is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vijayanallur. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tata Nagar Extn.?

The current guideline value of Tata Nagar Extn. is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the stamp duty rate for property in Tata Nagar Extn.?

The stamp duty rate for property in Tata Nagar Extn. is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Tata Nagar Extn.?

The Sub Registrar Office for Tata Nagar Extn. is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Vijayanallur?

The median guideline value in Vijayanallur is Rs 540 per sq.ft, with Tata Nagar Extn. being above this median at Rs 550 per sq.ft.