Guideline Value for Thattya Nagar

Thattya Nagar guideline value

The current guideline value of Thattya Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in 1. Nolambur village under the Villivakkam SRO, and it is classified as Residential Special Type - I.

How the guideline value of Thattya Nagar has changed

Over the years, the guideline value of Thattya Nagar has seen significant changes. The 2017 revision recorded a value of Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current value for Thattya Nagar.

• Sudsen Gems Park: Rs 7,100 per sq.ft (2024)
• S.R.R. Nagar: Rs 7,100 per sq.ft (2024)
• Tribuvan Flats: Rs 7,100 per sq.ft (2024)
• Tristar Apartments: Rs 7,100 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 7,100 per sq.ft (2024)
• Union Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thattya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thattya Nagar?

The Sub Registrar Office that covers Thattya Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor during property transactions in 1. Nolambur. 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.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. This ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Thattya Nagar?

The current guideline value of Thattya Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024. This represents a total increase of 63% from 2017 to 2024.

What is the land classification of Thattya Nagar?

Thattya Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Thattya Nagar?

The Sub Registrar Office for Thattya Nagar is located at Villivakkam Sub Registrar Office, Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 7,100 per sq.ft would incur a total stamp duty and registration fee of Rs 6,39,000.