Guideline Value for Theatre Road

Theatre Road guideline value

The current guideline value of Theatre Road in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Theatre Road has changed

The guideline value for Theatre Road has seen several revisions over the years. The earliest recorded value in 2002 was Rs 337 per sq.ft, which increased to Rs 366 per sq.ft in 2003. From there, the value rose significantly to Rs 900 per sq.ft in 2007, marking a 146% increase. The value then saw another substantial rise to Rs 2,500 per sq.ft in 2012, which was a 178% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and then it increased to the current value of Rs 2,700 per sq.ft in 2024, which is an 8% rise. Overall, from 2002 to 2024, the guideline value has increased by 701%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with 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, making Theatre Road's current value below that median.

• Thavaammal Nagar: Rs 2,700 per sq.ft (2024)
• Thenpalani Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 14th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Theatre Road

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 is charged at 7%, which amounts to Rs 1,89,000, and the registration fee is charged at 2%, amounting to Rs 54,000. Therefore, the total cost for stamp duty and registration fee together is Rs 2,43,000. 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 Theatre Road?

Theatre Road falls under 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 crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Theatre Road?

The current guideline value of Theatre Road 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 increased from Rs 337 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking a significant overall increase of 701% over the years.

What are the stamp duty and registration fees for Theatre Road?

For a property on Theatre Road valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Theatre Road?

The Sembiam Sub Registrar Office handles property registrations for Theatre Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Theatre Road?

The land classification for Theatre Road is Residential Class II Type - I, indicating its suitability for residential purposes.