Guideline Value for Thelungu Colony

Thelungu Colony guideline value

The current guideline value of Thelungu Colony is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Arani village under the Arani_Tiruvallur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thelungu Colony has changed

The guideline value for Thelungu Colony has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, it decreased to Rs 134 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 200 per sq.ft, and the upcoming 2024 revision also keeps it at Rs 200 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The overall change from 2007 to 2024 shows an increase of 33% in the guideline value.

Guideline values in Arani

In Arani, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Thelungu Colony's 2024 figure is below this median.

• Tamil Colony: Rs 300 per sq.ft (2024)
• Subramani Nagar: Rs 200 per sq.ft (2024)
• Thottakara Street: Rs 500 per sq.ft (2024)
• Thulukar Street: Rs 350 per sq.ft (2024)
• Thutta Street: Rs 300 per sq.ft (2024)
• Sri S.V. Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thelungu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 details.

Which Sub Registrar Office covers Thelungu Colony?

Thelungu Colony falls under the jurisdiction of the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Arani. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value assigned to the property.

When buying or selling property, the guideline value helps to standardize the transaction process, providing clarity and consistency in the valuation of properties. This ensures that both buyers and sellers have a clear understanding of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Thelungu Colony?

The current guideline value of Thelungu Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification of Thelungu Colony?

Thelungu Colony is classified as Residential Class IV Type - I.

What are the other streets in Arani and their guideline values?

Other streets in Arani include Tamil Colony at Rs 300 per sq.ft, Subramani Nagar at Rs 200 per sq.ft, Thottakara Street at Rs 500 per sq.ft, Thulukar Street at Rs 350 per sq.ft, Thutta Street at Rs 300 per sq.ft, and Sri S.V. Nagar at Rs 200 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft incurs a total of Rs 18,000 in fees.