Guideline Value for Thenpalani Nagar 8th Street

Thenpalani Nagar 8th Street guideline value

The current guideline value of Thenpalani Nagar 8th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Thenpalani Nagar 8th Street has changed

The guideline value for Thenpalani Nagar 8th Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 471%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, representing a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and subsequently rose by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

In summary, the guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, an overall increase of 529%. Notably, there are no figures available for the revisions in 2002 and 2003 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. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Thenpalani Nagar 8th Street's 2024 figure above this median.

• Thenpalani Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thenpalani Nagar 8th 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 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 Thenpalani Nagar 8th Street?

The Sub Registrar Office that covers Thenpalani Nagar 8th 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 plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer is required to pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thenpalani Nagar 8th Street?

The current guideline value of Thenpalani Nagar 8th 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 increased from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various changes occurring in between, including a decrease from 2012 to 2017.

What is the median guideline value for streets in Kolathur?

The median guideline value for the 879 streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, with Thenpalani Nagar 8th Street's value being above this median.

What are the stamp duty and registration fees for a property in Thenpalani Nagar 8th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the guideline value of Rs 44,00,000.

Which office handles registrations for Thenpalani Nagar 8th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Thenpalani Nagar 8th Street.