Guideline Value for Tata Nagar

Tata Nagar guideline value

The current guideline value of Tata Nagar, located in Vijayanallur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Tata Nagar has changed

The guideline value for Tata Nagar has seen several revisions over the years. Starting from Rs 300 per sq.ft in 2007, it increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. Following this, the value rose significantly to Rs 500 per sq.ft in 2023, and most recently, it has been revised to Rs 550 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 67% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial rise of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Vijayanallur

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

• Tata Nagar Extn.: 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

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 at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Tata Nagar?

The Sub Registrar Office that covers Tata Nagar 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 the registration process of property transactions in Vijayanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Tata Nagar?

The current guideline value of Tata Nagar 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, with various increases and decreases in between.

What are the other streets in Vijayanallur with their guideline values?

Other streets in Vijayanallur include Tata Nagar Extn. at Rs 550 per sq.ft, Sri Sai Garden and S.K. Nagar at Rs 440 per sq.ft, and Siva Sakthi Nagar Annexe, Sivasakthi Nagar at Rs 550 per sq.ft.

What fees are associated with property registration in Tata Nagar?

For a property in Tata Nagar, the stamp duty is 7% and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft property at the current rate incurs total fees of Rs 49,500.

Where is the Sub Registrar Office for Tata Nagar located?

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