Guideline Value for THAIMAN NAGAR

Thaiman Nagar guideline value

The current guideline value of Thaiman Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Thaiman Nagar has changed

The guideline value for Thaiman Nagar has undergone several revisions over the years. The oldest recorded revision is from 2017, which set the value at Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Thaiman Nagar in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to Thaiman Nagar's 2024 figure.

• Thai Nagar: Rs 550 per sq.ft (2024)
• Super Dhoni Nagr: Rs 1,480 per sq.ft (2024)
• Thirumullai Lake View Garden: Rs 440 per sq.ft (2024)
• Thiru Nagar: Rs 550 per sq.ft (2024)
• Thiru Nagar-1: Rs 550 per sq.ft (2024)
• Thiru Nagar II: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Thaiman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is essential 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 Thaiman Nagar?

The Sub Registrar Office that covers Thaiman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pothur. It serves as a benchmark for determining the stamp duty and registration fees that buyers need to pay when purchasing a property. This value is established by the government and is periodically revised to reflect changes in the real estate market.

When selling a property, the guideline value is also significant as it ensures that the property is registered at a value that is recognized by the authorities. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Thaiman Nagar?

The current guideline value of Thaiman Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing an overall increase of 64%.

What was the guideline value in 2023?

The guideline value in 2023 was Rs 500 per sq.ft, which was an increase from Rs 335 per sq.ft in 2017.

Which office handles registrations for Thaiman Nagar?

The Redhills Sub Registrar Office handles registrations for Thaiman Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Thaiman Nagar?

Stamp duty for properties in Thaiman Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a stamp duty of Rs 38,500.