Guideline Value for Tirupachur colony

Tirupachur colony guideline value

The current guideline value of Tirupachur colony is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Thirupachur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Tirupachur colony has changed

Over the years, the guideline value for Tirupachur colony has seen several revisions. The earliest recorded figure is from 2007, set at Rs 50 per sq.ft. This value increased significantly to Rs 550 per sq.ft in 2012, marking a 1,000% rise. However, it then decreased to Rs 368 per sq.ft in 2017, which is a 33% drop. The value stabilized at Rs 550 per sq.ft in both 2012 and 2023, with no figure available for the years 2002 and 2003.

In the most recent revision, effective from 1 July 2024, the guideline value remains at Rs 550 per sq.ft, showing no change from the previous year. The increase from 2017 to 2023 was 49%, and overall, from 2007 to 2024, the guideline value has increased by 1,000%.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, making the guideline value of Tirupachur colony equal to this median.

• Tiruttani Road: Rs 2,000 per sq.ft (2024)
• Vaniya street: Rs 1,000 per sq.ft (2024)
• Veda Vinayagar Nagar: Rs 626 per sq.ft (2024)
• Vellalar street: Rs 550 per sq.ft (2024)
• Vettaikaran street: Rs 1,000 per sq.ft (2024)
• Pookara street/kavari street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Tirupachur colony

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to 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 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 Tirupachur colony?

The Sub Registrar Office that covers Tirupachur colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tirupachur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on an officially recognized value of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for taxation purposes. This ensures transparency and consistency in property transactions in the region.

Frequently asked questions

What is the current guideline value of Tirupachur colony?

The current guideline value of Tirupachur colony 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 significantly from Rs 50 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, with further revisions leading to the same value in 2023 and 2024. The overall increase from 2007 to 2024 is 1,000%.

What are the stamp duty and registration fees for properties in Tirupachur?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration in Tirupachur?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Tirupachur. It is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum value for property transactions, influencing the stamp duty and registration fees. It ensures that all transactions are taxed fairly based on an officially recognized value.