Guideline Value for Thenpalani Nagar 2nd Street

Thenpalani Nagar 2nd Street guideline value

The current guideline value of Thenpalani Nagar 2nd 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 2nd Street has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the guideline value was Rs 700 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking an increase of 471%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, when it was raised to Rs 4,400 per sq.ft, reflecting a 10% increase.

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

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. The guideline value for Thenpalani Nagar 2nd Street is above this median.

• Thenpalani Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thenpalani Nagar 2nd 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, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thenpalani Nagar 2nd Street?

The Sub Registrar Office that covers Thenpalani Nagar 2nd 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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When purchasing property, the guideline value will be used to calculate the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the government receives the correct amount in taxes during property transactions.

Frequently asked questions

What is the current guideline value of Thenpalani Nagar 2nd Street?

The current guideline value of Thenpalani Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How 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, an overall increase of 529% over the years.

What is the land classification for Thenpalani Nagar 2nd Street?

The land classification for Thenpalani Nagar 2nd Street is Residential Special Type - I, which indicates the type of residential development allowed in the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Thenpalani Nagar 2nd Street?

The Sembiam Sub Registrar Office handles registrations for Thenpalani Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.