Guideline Value for Thilagar Nagar

Thilagar Nagar guideline value

The current guideline value of Thilagar Nagar, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Thilagar Nagar has changed

Over the years, the guideline value of Thilagar Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,300 per sq.ft.

Specifically, the changes between revisions are notable: from 2017 to 2023, there was a significant increase of 49%, while the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Thilagar Nagar's 2024 figure below that median.

• Thideer Nagar: Rs 1,300 per sq.ft (2024)
• Theen Murthy Nagar: Rs 1,300 per sq.ft (2024)
• Thaskant Street: Rs 1,300 per sq.ft (2024)
• Thandiar Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Thandavarayan meisthry Street: Rs 2,200 per sq.ft (2024)
• Thandair Nagar Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thilagar Nagar?

The Sub Registrar Office that covers Thilagar Nagar is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can affect negotiations and final sale prices. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Thilagar Nagar?

The current guideline value of Thilagar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Thilagar Nagar?

Thilagar Nagar is classified as Residential Class II Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for property in Thilagar Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Thilagar Nagar located?

The Sub Registrar Office for Thilagar Nagar is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.