Guideline Value for SIVAN NAGAR THILAGAR STREET

Sivan Nagar Thilagar Street guideline value

The current guideline value of Sivan Nagar Thilagar Street is Rs 1,980 per sq.ft. This street is located in Thundalam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sivan Nagar Thilagar Street has changed

The guideline value for Sivan Nagar Thilagar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft, which was then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and currently stands at Rs 1,980 per sq.ft as of the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value of Sivan Nagar Thilagar Street is above this median.

• Sivam Nagar: Rs 1,980 per sq.ft (2024)
• Senthamil Nagar: Rs 1,650 per sq.ft (2024)
• Sri Nainarswamy Garden Item-II: Rs 1,850 per sq.ft (2024)
• Sri Parasnath Jawahar Street: Rs 2,750 per sq.ft (2024)
• Sri Parasnath Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sri Parasnath Nagar Samulal Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Nagar Thilagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 additional calculations.

Which Sub Registrar Office covers Sivan Nagar Thilagar Street?

The Sub Registrar Office that covers Sivan Nagar Thilagar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thundalam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sivan Nagar Thilagar Street?

The current guideline value of Sivan Nagar Thilagar Street is Rs 1,980 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft in 2024.

What is the land classification for Sivan Nagar Thilagar Street?

The land classification for Sivan Nagar Thilagar Street is Residential Class III Type - I.

Where can I find the registration office for Sivan Nagar Thilagar Street?

The registration office for Sivan Nagar Thilagar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Thundalam?

The stamp duty for properties in Thundalam is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.