Guideline Value for THILAGAR STREET (WARD -8)

Thilagar Street (Ward -8) guideline value

The current guideline value of Thilagar Street (Ward -8) is Rs 1,320 per sq.ft, effective from the 2024 revision. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

The guideline value for Thilagar Street (Ward -8) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 has resulted in a 10% increase in the guideline value.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Thilagar Street (Ward -8) is above this median, reflecting its current guideline value of Rs 1,320 per sq.ft.

• Thirugnanasambanthar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Thenral Nagar (Kr): Rs 660 per sq.ft (2024)
• Thirukkural Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Thirukoodarasappar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Thembavani Street (N): Rs 1,320 per sq.ft (2024)
• Thirukuralar Street (Ward -8): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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 Panangottur

The guideline value is a crucial figure used during the registration of property transactions in Panangottur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are calculated based on the current market standards.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with legal requirements during the transaction process.

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 1,320 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, and then increasing to Rs 1,200 per sq.ft in 2023. The current value is Rs 1,320 per sq.ft as of 2024.

What is the land classification for Thilagar Street?

Thilagar Street (Ward -8) is classified as Residential Special Type - V, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft incurs total fees of Rs 1,18,800.

Which office handles the registration for Thilagar Street?

The Chengleput Joint II Sub Registrar Office is responsible for handling registrations for Thilagar Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.