Guideline Value for True value Homes

True value Homes guideline value

The current guideline value for True value Homes in Sriperumbudur A village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of True value Homes has changed

The guideline value for True value Homes has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 469 per sq.ft. This remained unchanged in the 2023 revision, which also recorded Rs 700 per sq.ft. As of the 2024 revision, the guideline value remains Rs 700 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2017 revision to the current 2024 figure, there is also a 49% increase, reflecting stability in the guideline value since 2023.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 700 per sq.ft, which aligns with the guideline value for True value Homes.

• T.R.C Nagar: Rs 700 per sq.ft (2024)
• Titti Vasal Street: Rs 1,200 per sq.ft (2024)
• Tirumangai Azhwar Street: Rs 1,800 per sq.ft (2024)
• Vada Pushkarani Street: Rs 700 per sq.ft (2024)
• Thirupathy Nagar: Rs 1,200 per sq.ft (2024)
• Thirumangai Alwar Kulakarai Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in True value Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers True value Homes?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value for True value Homes?

The current guideline value for True value Homes is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased by 49%, remaining stable at Rs 700 per sq.ft from 2023 to 2024. The 2017 revision recorded a guideline value of Rs 469 per sq.ft.

What is the land classification for True value Homes?

True value Homes is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

Where is the Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sriperumbudur A?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 7,00,000 would incur a stamp duty of Rs 49,000 at 7%.