Guideline Value for THIDEER NAGAR

Thideer Nagar guideline value

The current guideline value of Thideer Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Thideer Nagar has changed

The guideline value for Thideer Nagar has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 528 per sq.ft, which increased to Rs 587 per sq.ft in 2003, marking an 11% increase. The 2007 revision saw a significant jump to Rs 900 per sq.ft, an increase of 53%. By 2012, the value rose to Rs 3,000 per sq.ft, an increase of 233% from the previous revision. However, in 2017, it decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has brought the guideline value back up to Rs 3,300 per sq.ft, which is a 64% increase from 2017.

The register for 2023 has no figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 525%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thideer Nagar's 2024 guideline value is below this median.

• Thiagarajan Puram: Rs 7,700 per sq.ft (2024)
• Thengoor Selva Vinayagar Koil Street (Tsv): Rs 7,100 per sq.ft (2024)
• Thippu Sahib Street: Rs 3,300 per sq.ft (2024)
• Thejabai (Marvadi Thottam): Rs 3,300 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thideer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Thideer Nagar?

The Sub Registrar Office that covers Thideer Nagar is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the higher of the guideline value or the actual sale price is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Thideer Nagar?

The current guideline value of Thideer Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 528 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 525% over this period.

What is the land classification of Thideer Nagar?

Thideer Nagar is classified as Residential Class V Type - III, indicating its use for residential purposes.

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

The Mylapore Sub Registrar Office covers Thideer Nagar and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.