Guideline Value for Thennansolai Atrora Slum Area

Thennansolai Atrora Slum Area guideline value

The current guideline value of Thennansolai Atrora Slum Area is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thennansolai Atrora Slum Area has changed

The guideline value for Thennansolai Atrora Slum Area has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 4,020 per sq.ft, reflecting a reduction of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, and most recently, it reached Rs 6,600 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Thennansolai Atrora Slum Area is below this median.

• Tank Bund Road: Rs 9,300 per sq.ft (2024)
• Susai Puram: Rs 5,500 per sq.ft (2024)
• Subbarayan Street: Rs 8,800 per sq.ft (2024)
• Subbarayan Avenue: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 3rd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thennansolai Atrora Slum Area

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thennansolai Atrora Slum Area?

The Thennansolai Atrora Slum Area is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the official worth of the property, which is essential for legal documentation and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Thennansolai Atrora Slum Area?

The current guideline value of Thennansolai Atrora Slum Area is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, while Thennansolai Atrora Slum Area's value is below this median.

What are the stamp duty and registration fees for property in Thennansolai Atrora Slum Area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Thennansolai Atrora Slum Area?

The Chennai Central Joint II Sub Registrar Office handles registrations for Thennansolai Atrora Slum Area, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.