Guideline Value for THENDRAL NAGAR

Thendral Nagar guideline value

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

How the guideline value of Thendral Nagar has changed

Over the years, the guideline value of Thendral Nagar has seen significant changes. In 2002, the guideline value was Rs 124 per sq.ft. It increased to Rs 250 per sq.ft in 2007, marking a rise of 102%. By 2012, it had further increased to Rs 1,200 per sq.ft, reflecting a substantial growth of 380%. However, there was a decline to Rs 804 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision, showing an increase of 8% from the previous year. The register has no figure for this street in 2003.

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, placing Thendral Nagar's 2024 figure below that median.

• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)
• Thendral 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

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, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Thendral Nagar?

The Sub Registrar Office that covers Thendral Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thendral Nagar?

The current guideline value of Thendral 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 significantly, starting from Rs 124 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, which is an overall increase of 948%.

What is the median guideline value in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, which means Thendral Nagar's 2024 figure is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Thendral Nagar is charged at 7% of the higher value between the guideline value and the sale price.

Where can I find the Sub Registrar Office for Thendral Nagar?

The Sub Registrar Office for Thendral Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the relevant link.