Guideline Value for Thenmozhi Nagar

Thenmozhi Nagar guideline value

The current guideline value of Thenmozhi Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Thenmozhi Nagar has changed

The guideline value for Thenmozhi Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 417 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a 452% rise. However, the value dropped to Rs 1,541 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 2,300 per sq.ft in 2023, and most recently, it rose to Rs 2,530 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 417 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, representing an overall increase of 507%. It is important to note that there are no figures recorded for the years 2002 and 2003 for this street.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value is Rs 2,530 per sq.ft, which is equal to the guideline value of Thenmozhi Nagar.

• Thenmozhi Nagar 1 To 5 Streets: Rs 2,530 per sq.ft (2024)
• Thirumurugan S.R.V.S.Colony: Rs 2,530 per sq.ft (2024)
• Thirumurugan Street: Rs 2,160 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 2,160 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 3,080 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thenmozhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty, calculated at 7%, would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600. Together, these fees total Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thenmozhi Nagar?

The Sub Registrar Office that covers Thenmozhi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Thenmozhi Nagar?

The current guideline value of Thenmozhi Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 417 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and increases in subsequent years.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Thenmozhi Nagar?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

How is the guideline value determined for other streets in Kilkattalai?

The guideline value for other streets in Kilkattalai is determined based on various factors and is recorded in the guideline value register maintained by the Registration Department. The current values range from Rs 1,080 to Rs 5,500 per sq.ft.