Guideline Value for THILLAI NAGAR 1st STREET

THILLAI NAGAR 1st STREET guideline value

The current guideline value of THILLAI NAGAR 1st STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of THILLAI NAGAR 1st STREET has changed

The guideline value for THILLAI NAGAR 1st STREET has seen significant revisions over the years. In 2002, the value was Rs 180 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a substantial increase of 233%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable rise of 400%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, indicating a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing an increase of 64% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,733%.

The register has no figures for THILLAI NAGAR 1st STREET for the years 2023 and 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 guideline value in this area is Rs 2,500 per sq.ft, placing THILLAI NAGAR 1st STREET's 2024 figure above that median.

• THILLAI NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 4th & 5th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar Extension: Rs 2,500 per sq.ft (2024)
• Thirumalai Annex: Rs 2,500 per sq.ft (2024)
• Thirumalai Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in THILLAI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 THILLAI NAGAR 1st STREET?

The Sub Registrar Office that covers THILLAI NAGAR 1st STREET 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 is a crucial factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations associated with the transaction. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of THILLAI NAGAR 1st STREET?

The current guideline value of THILLAI NAGAR 1st STREET 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 180 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,733% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers THILLAI NAGAR 1st STREET?

The Villivakkam Sub Registrar Office covers THILLAI NAGAR 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Korattur?

The median guideline value in Korattur is Rs 2,500 per sq.ft, with THILLAI NAGAR 1st STREET's 2024 figure being above this median.