Guideline Value for Thilagar Nagar /Streets

Thilagar Nagar /Streets guideline value

The current guideline value of Thilagar Nagar /Streets is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is located in Kathivakkam village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Thilagar Nagar /Streets has changed

The guideline value for Thilagar Nagar /Streets has seen several revisions over the years. The 2007 revision recorded a value of Rs 200 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a significant rise of 300%. However, this value decreased to Rs 536 per sq.ft in the 2017 revision, reflecting a decline of 33%. The subsequent revision in 2023 set the value at Rs 1,000 per sq.ft, and the latest 2024 revision has it at Rs 1,001 per sq.ft, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 401%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median guideline value for this area is Rs 1,001 per sq.ft, which is equal to the current value for Thilagar Nagar /Streets.

• Thalanguppam Road/Street: Rs 1,001 per sq.ft (2024)
• Thadavakara kuppam: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar / Street/Cross Streets: Rs 1,100 per sq.ft (2024)
• S.V.M. nagar /All Streets: Rs 1,100 per sq.ft (2024)
• Ulaganathanpuram: Rs 1,000 per sq.ft (2024)
• Sri Ram Koil Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Nagar /Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thilagar Nagar /Streets?

The Sub Registrar Office that covers Thilagar Nagar /Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kathivakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is compared to the sale price. The higher amount is used to calculate the applicable duties and fees, ensuring that both parties are aware of their financial obligations in the transaction.

Frequently asked questions

What is the current guideline value of Thilagar Nagar /Streets?

The current guideline value of Thilagar Nagar /Streets is Rs 1,001 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 200 per sq.ft in 2007 to Rs 1,001 per sq.ft in 2024, marking an increase of 401% overall.

What is the land classification for Thilagar Nagar /Streets?

Thilagar Nagar /Streets is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Thilagar Nagar /Streets?

The Sub Registrar Office for Thilagar Nagar /Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Thilagar Nagar /Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,01,000, the stamp duty at 7% would be Rs 70,070.