Guideline Value for THIYAGI SATHIYAMORTHI NAGAR

Thiyagi Sathiyamorthi Nagar guideline value

The current guideline value of Thiyagi Sathiyamorthi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Thiyagi Sathiyamorthi Nagar has changed

The guideline value for Thiyagi Sathiyamorthi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which then increased significantly to Rs 2,600 per sq.ft in 2012, marking a 420% rise. However, from 2012 to 2017, the value decreased to Rs 1,742 per sq.ft, reflecting a decline of 33%. The subsequent revisions saw a substantial increase, with the 2017 figure rising to Rs 2,600 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in the 2024 revision, an increase of 8% from the previous year.

In summary, the changes from the 2017 revision to 2023 represented a 49% increase, while the overall change from the 2007 revision to the 2024 revision amounts to a notable 460%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Thiyagi Sathiyamorthi Nagar is below this median.

• Thiyagarayapuram: Rs 2,800 per sq.ft (2024)
• Thiryagarajan Street: Rs 3,700 per sq.ft (2024)
• Thiruvottiyur Kuppam: Rs 2,150 per sq.ft (2024)
• Thiruvottiyur High Road(Madras-Ennore Road): Rs 5,500 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 5,500 per sq.ft (2024)
• Thulukkana Naicken Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagi Sathiyamorthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 information on fees applicable to your property transactions.

Which Sub Registrar Office covers Thiyagi Sathiyamorthi Nagar?

The Sub Registrar Office that covers Thiyagi Sathiyamorthi Nagar is located at Thiruvottiyur Sub Registrar Office, 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more details, you can find your SRO.

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

When buying or selling property in Thiruvottiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for calculating these fees during the registration process, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of purchasing or selling property. Proper understanding of the guideline value helps in making informed decisions during real estate transactions.

Frequently asked questions

What is the current guideline value of Thiyagi Sathiyamorthi Nagar?

The current guideline value of Thiyagi Sathiyamorthi Nagar is Rs 2,800 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 500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Thiyagi Sathiyamorthi Nagar?

The Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, is responsible for this area.

What land classification does Thiyagi Sathiyamorthi Nagar fall under?

Thiyagi Sathiyamorthi Nagar is classified as Residential Special Type - III.