Guideline Value for THULUKANATHAMMAN KOIL 1ST STREET

Thulukanathamman Koil 1st Street guideline value

The current guideline value for Thulukanathamman Koil 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Koladi village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thulukanathamman Koil 1st Street has changed

The guideline value for Thulukanathamman Koil 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it decreased to Rs 670 per sq.ft in 2017, reflecting a 33% drop. By 2023, the value rose again to Rs 1,000 per sq.ft, and as of the 2024 revision, it stands at Rs 1,100 per sq.ft, indicating a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have figures listed for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Thulukanathamman Koil 1st Street.

• Thulukanathamman Koil Street: Rs 1,100 per sq.ft (2024)
• Thiruvengadam Nagar Extention: Rs 1,650 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 1,650 per sq.ft (2024)
• Valli Kollai Medu: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 1st Street: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thulukanathamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thulukanathamman Koil 1st Street?

The Sub Registrar Office that covers Thulukanathamman Koil 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thulukanathamman Koil 1st Street?

The current guideline value of Thulukanathamman Koil 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting at Rs 200 per sq.ft in 2007, increasing to Rs 1,000 per sq.ft in 2012, dropping to Rs 670 per sq.ft in 2017, and rising to Rs 1,100 per sq.ft in 2024.

What is the classification of land in Thulukanathamman Koil 1st Street?

The land classification for Thulukanathamman Koil 1st Street is Residential Class II Type - I.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 99,000.

Which office handles property registrations in Koladi?

The Chennai South Joint II Sub Registrar Office handles property registrations in Koladi, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.