Guideline Value for THIRUVELAN NAGAR

Thiruvelan Nagar guideline value

The current guideline value of Thiruvelan Nagar, located in Korakkathandalam village under the Oothukkottai SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Thiruvelan Nagar has changed

The guideline value for Thiruvelan Nagar has seen several revisions over the years. The oldest available figure is from the 2017 revision, which was set at Rs 50 per sq.ft. This figure was updated to Rs 100 per sq.ft in the 2023 revision, reflecting a 100% increase. The 2024 revision has maintained this rate at Rs 100 per sq.ft, resulting in no change from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for Thiruvelan Nagar. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 100%.

Guideline values in Korakkathandalam

In Korakkathandalam, five streets are listed under the Oothukkottai SRO for the 2024 guideline value, all carrying the same rate of Rs 100 per sq.ft. This places the Thiruvelan Nagar guideline value equal to the median of Rs 100 per sq.ft for the area.

• V.G.P.Thiru Nagar Part-III: Rs 100 per sq.ft (2024)
• Poovanam Nagar: Rs 100 per sq.ft (2024)
• Kasi Thiruvelan Nagar: Rs 100 per sq.ft (2024)
• Blessings Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvelan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Please 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 precise calculations.

Which Sub Registrar Office covers Thiruvelan Nagar?

The Thiruvelan Nagar area is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Korakkathandalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in determining the official price for registration purposes. This ensures transparency and uniformity in property transactions within the area.

Frequently asked questions

What is the current guideline value of Thiruvelan Nagar?

The current guideline value of Thiruvelan Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 50 per sq.ft to Rs 100 per sq.ft in 2023 and has remained at that rate for 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the registration office for Thiruvelan Nagar?

The registration office for Thiruvelan Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated in Thiruvelan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the stamp duty would be Rs 7,000.

Are there other streets with the same guideline value in Korakkathandalam?

Yes, there are other streets in Korakkathandalam, such as V.G.P.Thiru Nagar Part-III, Poovanam Nagar, Kasi Thiruvelan Nagar, and Blessings Nagar, all having a guideline value of Rs 100 per sq.ft for 2024.