Guideline Value for THILLAI NAGAR

Thillai Nagar guideline value

The current guideline value of Thillai Nagar, located in Polambakkam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Thillai Nagar has changed

Over the years, the guideline value of Thillai Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. The subsequent 2023 revision brought the value back to Rs 200 per sq.ft, and the latest revision in 2024 has maintained this figure at Rs 200 per sq.ft, resulting in no percentage change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. However, the overall change from the 2012 revision to the 2024 revision shows no net change, as the value remains at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Polambakkam

In Polambakkam village, there are 14 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. Thillai Nagar's guideline value for 2024 aligns with this median at Rs 200 per sq.ft.

• Thirumal Nagar: Rs 100 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -II: Rs 100 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -I: Rs 100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 275 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Sri Jaya Avenue: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these fees Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For additional calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Nagar?

The Sub Registrar Office that covers Thillai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Polambakkam. It determines the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value as per government standards.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Thillai Nagar?

The current guideline value of Thillai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most significant change being a 49% increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. The value has remained constant at Rs 200 per sq.ft since 2012.

What are the stamp duty and registration fees for property in Thillai Nagar?

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000, and the registration fee is Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Thillai Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Thillai Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Thillai Nagar?

The land classification for Thillai Nagar is Mixed Type - II, which indicates the nature of land use in the area.