Guideline Value for Thenpalani Nagar 16th Street

Thenpalani Nagar 16th Street guideline value

The current guideline value of Thenpalani Nagar 16th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thenpalani Nagar 16th Street has changed

Since the 2007 revision, the guideline value of Thenpalani Nagar 16th Street has seen significant changes. In 2007, the value was Rs 700 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a change of +471%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, where it increased to Rs 4,400 per sq.ft, reflecting a +10% change.

Overall, from 2007 to 2024, the guideline value has increased by +529%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, and 2017.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thenpalani Nagar 16th Street's current guideline value is above this median.

• Thenpalani Nagar 15th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thenpalani Nagar 16th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thenpalani Nagar 16th Street?

The Sub Registrar Office that covers Thenpalani Nagar 16th Street is 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

When buying or selling property in Kolathur, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thenpalani Nagar 16th Street?

The current guideline value for Thenpalani Nagar 16th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +529%.

What is the land classification for Thenpalani Nagar 16th Street?

The land classification for Thenpalani Nagar 16th Street is Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 44,00,000, the stamp duty would be calculated accordingly.