Guideline Value for Tristar City

Tristar City guideline value

The current guideline value of Tristar City, located in Vadakal village under the Sriperumpudur SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Tristar City has changed

Over the years, the guideline value of Tristar City has seen several revisions. The 2007 revision set the value at Rs 35 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2012, marking a 329% rise. However, the value then dropped to Rs 100 per sq.ft in 2017, which was a decrease of 33%. From 2017 to 2023, the value increased by 50% to Rs 150 per sq.ft. The most recent revision in 2024 maintained this value at Rs 150 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 329%.

Guideline values in Vadakal

In Vadakal, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 300 per sq.ft. Tristar City's 2024 guideline value is below this median.

• Vasantham Nagar: Rs 750 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Velalar Street: Rs 300 per sq.ft (2024)
• Theepanji Amman Koil Street: Rs 150 per sq.ft (2024)
• Thalaiyari Street: Rs 150 per sq.ft (2024)
• V.G.P.Vinoth Town: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Tristar City

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees together to Rs 13,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tristar City?

The Sub Registrar Office that covers Tristar City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Tristar City?

The current guideline value of Tristar City is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 35 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreasing to Rs 100 per sq.ft in 2017, and finally remaining at Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Tristar City?

Tristar City is classified as Residential Class IV Type - I. This classification is important for understanding the regulations and potential uses of the property.

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

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Tristar City located?

The Sub Registrar Office covering Tristar City is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in the area.