Guideline Value for THILLAI NAGAR 4TH & 5TH STREET

Thillai Nagar 4th & 5th Street guideline value

The current guideline value of Thillai Nagar 4th & 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Thillai Nagar 4th & 5th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly by 64%, reaching the current rate of Rs 3,300 per sq.ft. The register has no figures for the revisions in 2023, 2007, 2003, and 2002 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. This indicates fluctuations in the value over the years, with the most recent figure being the highest recorded for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, 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 4th & 5th Street's current value above this median.

• THILLAI NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• THILLAI NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• Thillai Nagar Extension: Rs 2,500 per sq.ft (2024)
• THILLAI NAGAR 1st STREET: Rs 3,300 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 4th & 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, making the total fees together Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thillai Nagar 4th & 5th Street?

The Thillai Nagar 4th & 5th Street falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the registration process. This ensures that all transactions are conducted in accordance with the regulatory framework set by the state.

Frequently asked questions

What is the current guideline value of Thillai Nagar 4th & 5th Street?

The current guideline value of Thillai Nagar 4th & 5th 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 seen various changes, with the 2012 revision at Rs 3,000 per sq.ft, decreasing to Rs 2,010 per sq.ft in 2017, and then rising to Rs 3,300 per sq.ft in 2024.

What is the land classification for Thillai Nagar 4th & 5th Street?

Thillai Nagar 4th & 5th Street is classified as Residential Special Type - III.

Where can I find the registration office for Thillai Nagar 4th & 5th Street?

The registration office for Thillai Nagar 4th & 5th Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Thillai Nagar 4th & 5th Street?

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