Guideline Value for Telephone Stores

Telephone Stores guideline value

The current guideline value of Telephone Stores in Thirumangalam village is Rs 11,500 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Special Type - I land classification, managed by the AnnaNagar SRO.

How the guideline value of Telephone Stores has changed

The guideline value of Telephone Stores has seen several revisions over the years. The oldest recorded figure is from 2007, which was Rs 2,500 per sq.ft. This increased significantly to Rs 10,500 per sq.ft in 2012, marking a substantial rise of 320%. However, it then decreased to Rs 7,035 per sq.ft in 2017, a drop of 33%. Following this, the value jumped to Rs 10,500 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, a further increase of 10% from the previous year.

It is important to note that the register has no figure for Telephone Stores for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 360%.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The guideline value for Telephone Stores matches the median value of Rs 11,500 per sq.ft. Below are other streets in Thirumangalam with their respective guideline values:

• Temple View Colony/Flats: Rs 14,800 per sq.ft (2024)
• Sunshine Apartments: Rs 13,200 per sq.ft (2024)
• Thillaiyadi Valliammai Nagar: Rs 4,400 per sq.ft (2024)
• Thiru Vi Ka Street, Thillaiyadi Valliammai Nagar: Rs 3,300 per sq.ft (2024)
• Vivekananda Street: Rs 11,500 per sq.ft (2024)
• Sangam Apartments: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Stores

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, totaling Rs 10,35,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Telephone Stores?

The Sub Registrar Office that covers Telephone Stores 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 information.

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

The guideline value is a crucial factor when registering property transactions in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established rates for the area.

Frequently asked questions

What is the current guideline value of Telephone Stores?

The current guideline value of Telephone Stores is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 360% over this period.

What are the stamp duty rates for properties in Telephone Stores?

The stamp duty for properties in Telephone Stores is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

Where is the Sub Registrar Office for Telephone Stores located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Telephone Stores?

Telephone Stores falls under the Residential Special Type - I land classification, as per the guidelines set by the AnnaNagar SRO.