Guideline Value for THILAGAR STREET (WARD -8)

Thilagar Street (Ward -8) guideline value

The current guideline value of Thilagar Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thilagar Street (Ward -8) has changed

The guideline value for Thilagar Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by the current rate of Rs 1,321 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, making the current value of Thilagar Street (Ward -8) above this median.

• Thirugnanasambanthar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Thenral Nagar (Kr): Rs 660 per sq.ft (2024)
• Thirukkural Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thirukoodarasappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thembavani Street (N): Rs 1,321 per sq.ft (2024)
• Thirukuralar Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420. Together, the total cost for stamp duty and registration fee would be Rs 1,18,890. 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 detailed calculations.

Which Sub Registrar Office covers Thilagar Street (Ward -8)?

The Sub Registrar Office that covers Thilagar Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Ninna Karai. It helps determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is used for calculating these charges, which are mandatory for property registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and transparently. This helps maintain a standard across property transactions in the area, providing a reliable framework for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Thilagar Street (Ward -8)?

The current guideline value of Thilagar Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,321 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, and Thilagar Street's current value is above this median.

What are the stamp duty and registration fees for Thilagar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,21,000. The stamp duty is Rs 92,470, and the registration fee is Rs 26,420, totaling Rs 1,18,890.

Where is the Sub Registrar Office for Thilagar Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.