Guideline Value for Thenpalani Nagar Extension

Thenpalani Nagar Extension guideline value

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

How the guideline value of Thenpalani Nagar Extension has changed

The guideline value for Thenpalani Nagar Extension has seen significant changes over the years. In 2002, the value was Rs 233 per sq.ft, which increased to Rs 253 per sq.ft in 2003. Following this, there was a substantial rise to Rs 700 per sq.ft in 2007, marking an increase of 177%. The value then surged to Rs 4,000 per sq.ft in 2012, a remarkable increase of 471% from the previous figure. However, it dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 4,000 per sq.ft, an increase of 49%. The latest revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1788%. There are no revisions with figures for this street in the register for the years not mentioned.

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 Extension is above this median.

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

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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thenpalani Nagar Extension?

The Sub Registrar Office covering Thenpalani Nagar Extension 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 an essential factor during property registration in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

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

Frequently asked questions

What is the current guideline value for Thenpalani Nagar Extension?

The current guideline value for Thenpalani Nagar Extension 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 233 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1788% over this period.

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.

Which office handles property registration in Thenpalani Nagar Extension?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registration for Thenpalani Nagar Extension.

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it determines the minimum value for property registration and is used to calculate stamp duty and registration fees, ensuring compliance with legal requirements during property transactions.