Guideline Value for THAAI NAGAR

Thaai Nagar guideline value

The current guideline value of Thaai Nagar, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Thaai Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available for Thaai Nagar are from 2012, 2023, and 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Thaai Nagar's current guideline value is below this median.

• Thai Nagar -Mayilai Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Thangam Avenue: Rs 1,320 per sq.ft (2024)
• Thangam Nagar: Rs 1,650 per sq.ft (2024)
• Tankview Street: Rs 1,320 per sq.ft (2024)
• Tankview 2nd Street: Rs 1,320 per sq.ft (2024)
• Tankview 1st Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thaai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thaai Nagar?

The Sub Registrar Office that covers Thaai Nagar 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 here.

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

The guideline value is a critical factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction, which can affect the overall costs involved in the registration process. Buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thaai Nagar?

The current guideline value of Thaai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, representing a total increase of 10% over this period.

What are the other guideline values in Pallikaranai?

In Pallikaranai, the guideline values for other streets range from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Thaai Nagar?

The Sub Registrar Office for Thaai Nagar 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.