![]() ![]() However, there is an easier process to calculate property tax in Chennai for buildings.Ĭonsider a common factor 10.92. Worry not! This detailed procedure was to help you understand how you can arrive at the annual value. Step 5: Depreciated building value + Land value (10% of total ARV) = ARV for land and buildingĭoes this calculation procedure appear too complicated? Therefore, Depreciated building value = ARV for building - Total discount Step 4: Discounts depending on the nature of occupancy (rented or owned), usage ( residential or commercial), and age of property are applied on the ARV for the building to arrive at its depreciated value. Step 3: Total ARV – 10% of ARV for land value = ARV for building only Step 2: Monthly rental value x 12 months = Annual rental value (ARV) Step 1: Plinth area x Base street rate per sq. ![]() Now, the total annual rental value (ARV) is calculated in the following manner. These are plinth areas or the total floor area, including external and internal walls, and the standard rental value in the area or base street rate per sq. The Chennai Corporation assesses property tax for every holding based on certain factors. ![]()
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