Guideline Value for THANTHAI PERIYAR NAGAR 'NAGATHAMMAN KOIL STREET'

Thanthai Periyar Nagar 'nagathamman Koil Street' guideline value

The current guideline value for Thanthai Periyar Nagar 'nagathamman Koil Street' is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Thanthai Periyar Nagar 'nagathamman Koil Street' has changed

The guideline value for Thanthai Periyar Nagar 'nagathamman Koil Street' has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This value remained unchanged until the next revision in 2017 when it decreased to Rs 1,005 per sq.ft. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, marking a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Thanthai Periyar Nagar 'nagathamman Koil Street' below the median.

• Thanthai Periyar Nagar 'm.G.R.Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'anna Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'ambedkar Street': Rs 1,600 per sq.ft (2024)
• Thathankuppam Main Road: Rs 1,600 per sq.ft (2024)
• Thayamma Nagar: Rs 1,300 per sq.ft (2024)
• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periyar Nagar 'nagathamman Koil Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration fee would be Rs 1,44,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanthai Periyar Nagar 'nagathamman Koil Street'?

The Sub Registrar Office that covers Thanthai Periyar Nagar 'nagathamman Koil Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees that will be applicable.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. The fees are based on the higher of the guideline value or the agreed sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thanthai Periyar Nagar 'nagathamman Koil Street'?

The current guideline value for Thanthai Periyar Nagar 'nagathamman Koil Street' is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Thanthai Periyar Nagar 'nagathamman Koil Street' is Residential Class III Type - III.

Where can I find the registration office for this area?

The registration office for Thanthai Periyar Nagar 'nagathamman Koil Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.