Guideline Value for Thanigai Nagar 4th Street

Thanigai Nagar 4th Street guideline value

The current guideline value of Thanigai Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thanigai Nagar 4th Street has changed

The guideline value for Thanigai Nagar 4th Street has seen several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and is currently set at Rs 2,700 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a substantial 257%. Overall, from 2007 to 2024, the guideline value has increased by 286%.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of Thanigai Nagar 4th Street is below this median.

• Thanigai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Thanigai Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Thanigai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Thandhai Periyar Nagar: Rs 2,700 per sq.ft (2024)
• Thavaammal Nagar: Rs 2,700 per sq.ft (2024)
• Theatre Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigai Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please 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 further calculations.

Which Sub Registrar Office covers Thanigai Nagar 4th Street?

The Sub Registrar Office that covers Thanigai Nagar 4th Street 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 plays a crucial role in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Thanigai Nagar 4th Street?

The current guideline value of Thanigai Nagar 4th Street 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 changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with several revisions in between, including a drop to Rs 1,675 per sq.ft in 2017.

What is the land classification for Thanigai Nagar 4th Street?

Thanigai Nagar 4th Street is classified as Residential Class II Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Thanigai Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,89,000.