Guideline Value for Thaiyallu Nagar

Thaiyallu Nagar guideline value

The current guideline value of Thaiyallu Nagar, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Thaiyallu Nagar has changed

The guideline value for Thaiyallu Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 248 per sq.ft. This figure increased to Rs 380 per sq.ft in 2003, marking a 53% rise. The value continued to grow, reaching Rs 800 per sq.ft in 2007, which was an increase of 111%. In 2012, it rose further to Rs 5,000 per sq.ft, reflecting a substantial 525% increase. However, the value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 5,000 per sq.ft in 2023, followed by another rise to the current value of Rs 5,500 per sq.ft in 2024, indicating a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2118%. There are no figures for the years not mentioned in the register for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in the village is Rs 3,800 per sq.ft, placing Thaiyallu Nagar's 2024 figure above this median.

• Thakoor Street: Rs 3,800 per sq.ft (2024)
• Thallunkinaru Street: Rs 3,800 per sq.ft (2024)
• Teachers Guild Colony: Rs 5,500 per sq.ft (2024)
• Therku Jaganatha Nagar Eighth Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Fifth Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar First Cross Street & Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thaiyallu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Thaiyallu Nagar?

The Sub Registrar Office covering Thaiyallu Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling a property. The authorities use the guideline value to ensure that the correct amount of duty is collected based on the property's value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thaiyallu Nagar?

The current guideline value of Thaiyallu Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 248 per sq.ft to Rs 5,500 per sq.ft in 2024, marking an overall increase of 2118%.

What is the classification of land in Thaiyallu Nagar?

Thaiyallu Nagar is classified as Residential Class I Type - I, indicating its use for residential purposes.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Thaiyallu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.