Guideline Value for Treasure Land

Treasure Land guideline value

The current guideline value of Treasure Land, located in Vellerithangal village under the Gooduvancheri SRO, is Rs 400 per sq.ft. This value is effective from the 2024 revision, which began on 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Treasure Land has changed

The guideline value for Treasure Land has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision saw a significant increase to Rs 268 per sq.ft, marking a 49% rise from the previous figure. However, the 2024 revision brought the value back to Rs 400 per sq.ft, showing no change from the 2023 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value remained at Rs 400 per sq.ft, indicating stability in this period despite fluctuations in earlier years.

Guideline values in Vellerithangal

Vellerithangal village has 21 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 250 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is the same as the guideline value for Treasure Land. This places Treasure Land at the median value within the village.

• Varadaraji Nagar: Rs 400 per sq.ft (2024)
• Sri Valli Nagar: Rs 400 per sq.ft (2024)
• Sri Sairam Nagar: Rs 300 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 300 per sq.ft (2024)
• SRI RAM Nagar: Rs 1,083 per sq.ft (2024)
• Sri Krishna Mohana Nagar Phase III: Rs 903 per sq.ft (2024)

Stamp duty and registration fee for property in Treasure Land

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, which totals Rs 28,000, while the registration fee is 2%, amounting to Rs 8,000. Together, these fees total Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Treasure Land?

The Sub Registrar Office that covers Treasure Land is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vellerithangal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When buying or selling property, the guideline value helps both parties understand the legal and financial obligations involved in the transaction. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Treasure Land?

The current guideline value of Treasure Land is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant change occurring between 2017 and 2023, where it increased by 49%. However, the value remained constant at Rs 400 per sq.ft from 2012 to 2024.

What are the stamp duty and registration fees for property in Treasure Land?

For a 1,000 sq.ft plot, the total guideline value is Rs 4,00,000. The stamp duty is Rs 28,000, and the registration fee is Rs 8,000, totaling Rs 36,000.

Which Sub Registrar Office covers Treasure Land?

The Gooduvancheri Sub Registrar Office covers Treasure Land, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that these fees are based on an official valuation, providing clarity and consistency in the registration process.