Guideline Value for THAYAMMA NAGAR

Thayamma Nagar guideline value

The current guideline value of Thayamma Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Korattur village and is classified as Residential Class IV Type - I, governed by the Villivakkam SRO.

How the guideline value of Thayamma Nagar has changed

Over the years, the guideline value of Thayamma Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,200 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that Thayamma Nagar's 2024 guideline value is below this median.

• Thathankuppam Main Road: Rs 1,600 per sq.ft (2024)
• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)
• Thendral Nagar: Rs 1,300 per sq.ft (2024)
• Thanthai Periyar Nagar 'nagathamman Koil Street': Rs 1,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Thayamma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thayamma Nagar?

The Sub Registrar Office that covers Thayamma Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit the provided link.

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

The guideline value plays a crucial role in the registration process for property transactions in Korattur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to understand that the guideline value is a government-determined rate, which may differ from the actual sale price. This ensures transparency and consistency in property transactions, protecting the interests of all parties involved.

Frequently asked questions

What is the current guideline value of Thayamma Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Thayamma Nagar?

Thayamma Nagar is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office for Thayamma Nagar located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Thayamma Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.