Guideline Value for Tranquil Phase - I

Tranquil Phase - I guideline value

The current guideline value of Tranquil Phase - I in Uthandi village, under the Neelankarai SRO, is Rs 4,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Tranquil Phase - I has changed

In the 2017 revision, the guideline value was Rs 3,750 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 3,750 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,200 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 12%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Tranquil Phase - I's 2024 figure above that median.

• Tranquil Phase-II: Rs 4,400 per sq.ft (2024)
• Uthandi Colony: Rs 1,700 per sq.ft (2024)
• Varathammal Thottam: Rs 1,100 per sq.ft (2024)
• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Tranquil Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000. The stamp duty at 7% would amount to Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, leading to a total of Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tranquil Phase - I?

The Sub Registrar Office that covers Tranquil Phase - I is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When you register a property, the guideline value is used to calculate the applicable duties and fees, ensuring that all transactions are conducted in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Tranquil Phase - I?

The current guideline value of Tranquil Phase - I is Rs 4,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 3,750 per sq.ft in 2023 to Rs 4,200 per sq.ft in 2024, representing a 12% increase.

What was the guideline value in previous years?

The guideline value was Rs 3,750 per sq.ft in both the 2017 and 2023 revisions. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What are the stamp duty and registration fees for property in Tranquil Phase - I?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 42,00,000. The stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which office handles property registrations for Tranquil Phase - I?

The Neelankarai Sub Registrar Office handles property registrations for Tranquil Phase - I, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.