Guideline Value for Thenpalani Nagar 9th Street

Thenpalani Nagar 9th Street guideline value

The current guideline value of Thenpalani Nagar 9th 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 9th Street has changed

The guideline value for Thenpalani Nagar 9th Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which saw a significant increase to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 529%. The register has no figures for the years 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, with a median value of Rs 3,300 per sq.ft. Thenpalani Nagar 9th Street's current guideline value is above this median.

• Thenpalani Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Thenpalani Nagar 6th Street: 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 9th 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 fees to 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thenpalani Nagar 9th Street?

The Sub Registrar Office that covers Thenpalani Nagar 9th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Thenpalani Nagar 9th Street?

The current guideline value of Thenpalani Nagar 9th 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, reflecting an overall increase of 529% over this period.

What are the other streets in Kolathur with the same guideline value?

Several other streets in Kolathur have the same guideline value of Rs 4,400 per sq.ft, including Thenpalani Nagar 8th Street, Thenpalani Nagar Extension, Thenpalani Nagar 7th Street, Thenpalani Nagar 6th Street, Thenpalani Nagar 5th Street, and Thenpalani Nagar 4th Street.

What fees are associated with buying property in Thenpalani Nagar 9th Street?

When buying property in Thenpalani Nagar 9th Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. Together, these fees can add a significant amount to the total cost of the transaction.

Where can I find the Sub Registrar Office for Thenpalani Nagar 9th Street?

The Sub Registrar Office for Thenpalani Nagar 9th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.