Guideline Value for THILLAI NAGAR 3rd STREET

THILLAI NAGAR 3rd STREET guideline value

The current guideline value of THILLAI NAGAR 3rd 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, classified as Residential Special Type - III.

How the guideline value of THILLAI NAGAR 3rd STREET has changed

The guideline value for THILLAI NAGAR 3rd STREET has seen significant changes 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 rise of 233%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, indicating an increase of 64% from 2017.

It is important to note that there are no figures available for the years 2023 and 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1733%.

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 value for these streets is Rs 2,500 per sq.ft, placing THILLAI NAGAR 3rd STREET above this median with its 2024 figure of Rs 3,300 per sq.ft.

• Thillai Nagar 4th & 5th Street: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 1st 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 3rd 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 essential 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 THILLAI NAGAR 3rd STREET?

The Sub Registrar Office that covers THILLAI NAGAR 3rd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of THILLAI NAGAR 3rd STREET?

The current guideline value of THILLAI NAGAR 3rd 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, marking an overall increase of 1733%.

What is the land classification of THILLAI NAGAR 3rd STREET?

THILLAI NAGAR 3rd STREET is classified as Residential Special Type - III.

Where can I find the registration office for THILLAI NAGAR 3rd STREET?

The registration office for THILLAI NAGAR 3rd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in THILLAI NAGAR 3rd STREET?

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 7%.