Guideline Value for THEEPANCHIAMMAN NAGAR/ EXTENSION

Theepanchiamman Nagar/ Extension guideline value

The current guideline value of Theepanchiamman Nagar/ Extension is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO) with a land classification of Residential Class IV Type - I.

How the guideline value of Theepanchiamman Nagar/ Extension has changed

The guideline value for Theepanchiamman Nagar/ Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decrease of 33%, but the overall change from 2012 to 2024 shows an increase of 8%. The most notable increase was from 2017 to 2023, where the value rose by 49%.

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 guideline value in this area is Rs 2,500 per sq.ft, indicating that the 2024 guideline value of Theepanchiamman Nagar/ Extension is below this median.

• Thayamma Nagar: Rs 1,300 per sq.ft (2024)
• Thathankuppam Main Road: Rs 1,600 per sq.ft (2024)
• Thendral Nagar: Rs 1,300 per sq.ft (2024)
• Thendral Nagar Extension: 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)

Stamp duty and registration fee for property in Theepanchiamman Nagar/ Extension

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 cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Theepanchiamman Nagar/ Extension?

Theepanchiamman Nagar/ Extension is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Korattur, as it determines the amount of stamp duty and registration fees payable during the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. If the sale price is higher than the guideline value, the duty will be charged on the sale price instead.

Frequently asked questions

What is the current guideline value of Theepanchiamman Nagar/ Extension?

The current guideline value of Theepanchiamman Nagar/ Extension 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 increased 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 Theepanchiamman Nagar/ Extension?

The land classification of Theepanchiamman Nagar/ Extension is Residential Class IV Type - I.

Where can I find the Villivakkam Sub Registrar Office?

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

How is stamp duty calculated for properties in Theepanchiamman Nagar/ Extension?

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