Guideline Value for Thai Kanniyammal Nagar

Thai Kanniyammal Nagar guideline value

The current guideline value of Thai Kanniyammal Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Thai Kanniyammal Nagar has changed

The guideline value for Thai Kanniyammal Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Pazhanthandalam

In Pazhanthandalam, there are 57 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. Thai Kanniyammal Nagar's current guideline value is below this median.

• Thai Kanniyammal Nagar Extension III: Rs 770 per sq.ft (2024)
• Thai Thillai Nagar: Rs 770 per sq.ft (2024)
• Tasiowa Industrial Park Phase II: Rs 1,100 per sq.ft (2024)
• Taisowa Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sathya Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sai City Phase-IV: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thai Kanniyammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Thai Kanniyammal Nagar?

The Thai Kanniyammal Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point during property transactions in Pazhanthandalam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements associated with property transactions.

When a property is bought or sold, the guideline value helps in assessing the official value of the property for taxation purposes. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the registration authorities.

Frequently asked questions

What is the current guideline value of Thai Kanniyammal Nagar?

The current guideline value of Thai Kanniyammal Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. The duty is charged based on the higher of the guideline value or the sale price.

Which office handles property registrations for Thai Kanniyammal Nagar?

The Padappai Sub Registrar Office handles property registrations for Thai Kanniyammal Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Thai Kanniyammal Nagar?

The land classification for Thai Kanniyammal Nagar is Residential Special Type - II, indicating its designated use for residential purposes.