Guideline Value for THENDRAL NAGAR EXTENSION

Thendral Nagar Extension guideline value

The current guideline value of Thendral 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 SRO, classified as Residential Class IV Type - I.

How the guideline value of Thendral Nagar Extension has changed

The guideline value for Thendral Nagar Extension has undergone several revisions since 2002. In 2002, the value was Rs 124 per sq.ft, which increased to Rs 250 per sq.ft in 2007. This marked a significant rise of 102%. The value remained at Rs 1,200 per sq.ft from 2012 until 2023, showing no change during that period. In 2024, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 948%. Notably, there are no figures available for the years 2003 and 2017 in the register for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value 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 Thendral Nagar Extension's 2024 figure is below the median.

• Thendral Nagar: Rs 1,300 per sq.ft (2024)
• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)
• Thayamma Nagar: Rs 1,300 per sq.ft (2024)
• Thathankuppam Main Road: Rs 1,600 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 Thendral 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 would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thendral Nagar Extension?

The Sub Registrar Office that covers Thendral Nagar Extension is 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 plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This practice helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thendral Nagar Extension?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 124 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 948% over the years.

What are the stamp duty and registration fees for properties in Thendral Nagar Extension?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which Sub Registrar Office is responsible for Thendral Nagar Extension?

The Villivakkam Sub Registrar Office is responsible for Thendral Nagar Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Thendral Nagar Extension?

Thendral Nagar Extension is classified as Residential Class IV Type - I under the Villivakkam SRO.