Guideline Value for THEKKAN COLONY

Thekkan Colony guideline value

The current guideline value of Thekkan Colony is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thekkan Colony has changed

The guideline value for Thekkan Colony has seen several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 brought the guideline value to Rs 440 per sq.ft, reflecting a further increase of 10% from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which aligns with the guideline value of Thekkan Colony.

• Thirumurthi Nagar: Rs 715 per sq.ft (2024)
• Thiruvadi Amman Nagar: Rs 440 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• Sri Sankara Vetrivel Garden: Rs 440 per sq.ft (2024)
• Sri Ram Nagar/Ext: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar/Ext: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Thekkan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thekkan Colony?

Thekkan Colony falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thekkan Colony?

The current guideline value of Thekkan Colony is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024.

What is the land classification of Thekkan Colony?

Thekkan Colony is classified as Residential Class I Type - III.

Which Sub Registrar Office covers Thekkan Colony?

The Thiruvottiyur Sub Registrar Office covers Thekkan Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Thekkan Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 30,800.