Guideline Value for Tiana Sky City Extension-I

Tiana Sky City Extension-I guideline value

The current guideline value for Tiana Sky City Extension-I is Rs 3,500 per sq.ft, effective from 1 July 2024. This property is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Residential Class IV Type - III.

How the guideline value of Tiana Sky City Extension-I has changed

The guideline value for Tiana Sky City Extension-I has seen significant changes over the years. The 2017 revision set the value at Rs 2,100 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,500 per sq.ft, marking a 67% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 67%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Agaramthen

Agaramthen has a total of 125 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Tiana Sky City Extension-I above the median.

• Tiana Sky City Extension II - EGK Street: Rs 2,310 per sq.ft (2024)
• Tiana Sky City: Rs 3,300 per sq.ft (2024)
• Tiana Sky City Extension -III: Rs 3,450 per sq.ft (2024)
• T.V.Lakshmipathi Street: Rs 830 per sq.ft (2024)
• T.V.Srinivasan Street: Rs 830 per sq.ft (2024)
• Vallalar Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Tiana Sky City Extension-I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost to Rs 3,15,000. 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 more details.

Which Sub Registrar Office covers Tiana Sky City Extension-I?

The Tiana Sky City Extension-I 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 Agaramthen

The guideline value plays a crucial role during the registration of property transactions in Agaramthen. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Tiana Sky City Extension-I?

The current guideline value for Tiana Sky City Extension-I is Rs 3,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From 2017 to 2024, the guideline value has increased by 67%. The value was Rs 2,100 per sq.ft in 2017 and has risen to Rs 3,500 per sq.ft in 2024.

What are the other streets in Agaramthen and their guideline values?

Other streets in Agaramthen include Tiana Sky City Extension II - EGK Street at Rs 2,310 per sq.ft, Tiana Sky City at Rs 3,300 per sq.ft, and Tiana Sky City Extension -III at Rs 3,450 per sq.ft, among others.

How is the stamp duty calculated for properties in Tiana Sky City Extension-I?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,45,000.

Where is the Sub Registrar Office for Tiana Sky City Extension-I located?

The Sub Registrar Office for Tiana Sky City Extension-I is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.