Guideline Value for Thanigai Nagar Annex-II

Thanigai Nagar Annex-II guideline value

The current guideline value of Thanigai Nagar Annex-II is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Thanigai Nagar Annex-II has changed

Over the years, the guideline value for Thanigai Nagar Annex-II has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017. The value then rose significantly to Rs 400 per sq.ft in 2023, and finally, it reached Rs 440 per sq.ft in 2024. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 120%. The most significant change occurred from 2012 to 2017, where the value decreased by 33%. Conversely, the increase from 2017 to 2023 was 49%, followed by a 10% increase from 2023 to 2024.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. Thanigai Nagar Annex-II's guideline value of Rs 440 per sq.ft is below this median.

• Thanigai Nagar Annex: Rs 440 per sq.ft (2024)
• Thanigai Nagar: Rs 440 per sq.ft (2024)
• Teachers Modern Town: Rs 770 per sq.ft (2024)
• Suyambulingam Nagar: Rs 770 per sq.ft (2024)
• Thirumaleswara Nagar: Rs 2,200 per sq.ft (2024)
• Sundara Vinayagar Nagar (S.V. Nagar): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigai Nagar Annex-II

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanigai Nagar Annex-II?

The Sub Registrar Office covering Thanigai Nagar Annex-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is fair and transparent, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Thanigai Nagar Annex-II?

The current guideline value of Thanigai Nagar Annex-II is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over this period.

What is the land classification of Thanigai Nagar Annex-II?

Thanigai Nagar Annex-II is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Which Sub Registrar Office handles registrations for this area?

The Redhills Sub Registrar Office handles registrations for Thanigai Nagar Annex-II, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.