Guideline Value for Tristar Apartments

Tristar Apartments guideline value

The current guideline value of Tristar Apartments is Rs 7,100 per sq.ft, effective from 1 July 2024. It is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Tristar Apartments has changed

The guideline value for Tristar Apartments has seen significant changes over the years. In the 2017 revision, the value was Rs 4,355 per sq.ft. This increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision shows a further increase to Rs 7,100 per sq.ft, reflecting a 9% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. There are no figures available for the revisions in 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 is Rs 7,100 per sq.ft, which is equal to the current value of Tristar Apartments.

• Tribuvan Flats: 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 Tristar Apartments

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, totaling Rs 6,39,000. 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 information on fees.

Which Sub Registrar Office covers Tristar Apartments?

The Sub Registrar Office that covers Tristar Apartments is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in 1. Nolambur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is considered to assess the applicable duties, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tristar Apartments?

The current guideline value of Tristar Apartments 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 changed 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, reflecting a total increase of 63% from 2017 to 2024.

What are the guideline values of other streets in 1. Nolambur?

In addition to Tristar Apartments, other streets in 1. Nolambur have varying guideline values. For example, Tribuvan Flats and Thattya Nagar also have a guideline value of Rs 7,100 per sq.ft, while Union Salai and Vellalar Street have values of Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for property in Tristar Apartments?

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. These fees are calculated based on the guideline value.

Which office handles the registration for Tristar Apartments?

The Villivakkam Sub Registrar Office handles the registration for Tristar Apartments. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.