Guideline Value for THANPILLAI THIRU NAGAR

Thanpillai Thiru Nagar guideline value

The current guideline value of Thanpillai Thiru Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this street is Residential Class V Type - I.

How the guideline value of Thanpillai Thiru Nagar has changed

The guideline value for Thanpillai Thiru Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 512 per sq.ft. This increased to Rs 564 per sq.ft in 2003, marking a 10% rise. The value continued to rise, reaching Rs 700 per sq.ft in 2007, which was a 24% increase from the previous year. In 2012, the value was revised to Rs 3,000 per sq.ft, reflecting a significant increase of 329% from 2007. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Arumbakkam

In Arumbakkam, the guideline values for 391 streets under the Kodambakkam SRO range from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Thanpillai Thiru Nagar is below this median.

• Thiruvadudurai Adhinam Nagar: Rs 5,500 per sq.ft (2024)
• Thiruvalluvar Nagar (Near Kalki Nagar): Rs 3,800 per sq.ft (2024)
• Thiruvalluvar Street (Amaravathi Nagar): Rs 4,400 per sq.ft (2024)
• Thiruveethiammam Koil Street: Rs 4,700 per sq.ft (2024)
• Thiru Venkada Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Thiru. VI.Ka Street: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanpillai Thiru Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanpillai Thiru Nagar?

The Sub Registrar Office that covers Thanpillai Thiru Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately based on the prevailing rates set by the government.

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

Frequently asked questions

What is the current guideline value of Thanpillai Thiru Nagar?

The current guideline value of Thanpillai Thiru Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 512 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting various increases and a decrease in between. The most recent increase was 10% from 2023 to 2024.

What is the land classification of Thanpillai Thiru Nagar?

Thanpillai Thiru Nagar is classified as Residential Class V Type - I. This classification affects the guideline value and the regulations governing property transactions in the area.

Where can I find the Sub Registrar Office for Thanpillai Thiru Nagar?

The Sub Registrar Office for Thanpillai Thiru Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Thanpillai Thiru Nagar?

The stamp duty for properties in Thanpillai Thiru Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.