Guideline Value for Tribuvan Flats

Tribuvan Flats guideline value

The current guideline value of Tribuvan Flats in 1. Nolambur village is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Villivakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Tribuvan Flats has changed

In the 2017 revision, the guideline value was Rs 4,355 per sq.ft. This increased to Rs 6,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase further to Rs 7,100 per sq.ft, reflecting a change of 9% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the current figure for Tribuvan Flats.

• Tristar Apartments: Rs 7,100 per sq.ft (2024)
• Union Salai: Rs 5,500 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 3,300 per sq.ft (2024)
• Thattya Nagar: Rs 7,100 per sq.ft (2024)
• V.G.N.Aster: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Tribuvan Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 detailed calculations.

Which Sub Registrar Office covers Tribuvan Flats?

The Sub Registrar Office that covers Tribuvan Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor during property registration in 1. Nolambur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with legal requirements. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tribuvan Flats?

The current guideline value of Tribuvan Flats is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024.

What is the land classification for Tribuvan Flats?

Tribuvan Flats is classified as Residential Special Type - I under the Villivakkam SRO.

What are the stamp duty and registration fees for property in Tribuvan Flats?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles the registration for Tribuvan Flats?

The Villivakkam Sub Registrar Office handles the registration for Tribuvan Flats, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.