Guideline Value for Thenpalani Nagar 3rd Street

Thenpalani Nagar 3rd Street guideline value

The current guideline value of Thenpalani Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Thenpalani Nagar 3rd Street has changed

Looking at the revisions, the guideline value for Thenpalani Nagar 3rd Street has seen significant changes over the years. The earliest recorded figure is from 2007, when it was Rs 700 per sq.ft. This value increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2023, the value remained unchanged at Rs 4,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Thenpalani Nagar 3rd Street above this median.

• Thenpalani Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thenpalani Nagar 3rd 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, calculated at 7%, amounts to Rs 3,08,000, while the registration fee at 2% is Rs 88,000. Therefore, the total cost for stamp duty and registration would be 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Thenpalani Nagar 3rd Street?

The Sub Registrar Office that covers Thenpalani Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thenpalani Nagar 3rd Street?

The current guideline value of Thenpalani Nagar 3rd 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. Notably, there was a 471% increase from 2007 to 2012, and a 10% increase from 2023 to 2024.

What is the land classification for Thenpalani Nagar 3rd Street?

Thenpalani Nagar 3rd Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the registration office for properties in this area?

The registration office for properties in Thenpalani Nagar 3rd Street is the Sembiam Sub Registrar Office, 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, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.