Guideline Value for THENMOZHI NAGAR 1 TO 5 STREETS

Thenmozhi Nagar 1 To 5 Streets guideline value

The current guideline value for Thenmozhi Nagar 1 To 5 Streets in Kilkattalai village is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Thenmozhi Nagar 1 To 5 Streets has changed

The guideline value for Thenmozhi Nagar 1 To 5 Streets has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased significantly to Rs 2,300 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is the same as the current value for Thenmozhi Nagar 1 To 5 Streets.

• Thenmozhi Nagar: Rs 2,530 per sq.ft (2024)
• Thirumurugan S.R.V.S.Colony: Rs 2,530 per sq.ft (2024)
• Thirumurugan Street: Rs 2,160 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 2,160 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thenmozhi Nagar 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thenmozhi Nagar 1 To 5 Streets?

The Sub Registrar Office covering Thenmozhi Nagar 1 To 5 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kilkattalai. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thenmozhi Nagar 1 To 5 Streets?

The current guideline value for Thenmozhi Nagar 1 To 5 Streets is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for property valuations in the area.

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

The Sub Registrar Office for Thenmozhi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Thenmozhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at a rate of 7%.