Guideline Value for Thandhai Periyar Nagar

Thandhai Periyar Nagar guideline value

The current guideline value of Thandhai Periyar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thandhai Periyar Nagar has changed

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 150% rise. The value remained unchanged at Rs 2,500 per sq.ft through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thandhai Periyar Nagar's 2024 figure below that median.

• Thanigai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Thanigai Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thanigai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Thanigai Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Teachers Gild Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thandhai Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thandhai Periyar Nagar?

The Sub Registrar Office that covers Thandhai Periyar Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thandhai Periyar Nagar?

The current guideline value of Thandhai Periyar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which represents a total increase of 170% over the years.

What is the land classification for Thandhai Periyar Nagar?

Thandhai Periyar Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Thandhai Periyar Nagar?

The Sub Registrar Office for Thandhai Periyar Nagar is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Thandhai Periyar Nagar?

Stamp duty for properties in Thandhai Periyar Nagar is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.