Guideline Value for Thilagar Nagar

Thilagar Nagar guideline value

The current guideline value of Thilagar Nagar, located in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Thilagar Nagar has changed

Over the years, the guideline value of Thilagar Nagar has seen several revisions. The earliest recorded figure is from 2007, when the value was Rs 500 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 260%. However, by 2017, the value decreased to Rs 1,206 per sq.ft, a decline of 33%. The subsequent revisions saw a substantial increase, with the value rising to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 280%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. Thilagar Nagar's 2024 figure is below this median.

• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)
• Thirumalai Avenue: Rs 3,700 per sq.ft (2024)
• Thirunagar: Rs 3,700 per sq.ft (2024)
• Thirunagar Extn: Rs 3,700 per sq.ft (2024)
• Thiruvallur Street: Rs 5,500 per sq.ft (2024)
• Teachers Nagar: Rs 1,500 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thilagar Nagar?

The Thilagar Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, it is essential to be aware of the current guideline value as it directly impacts the total cost of registration. Buyers and sellers should consult the latest figures to ensure accurate calculations of their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Thilagar Nagar?

The current guideline value of Thilagar Nagar is Rs 1,900 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 500 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 280% over the years.

What is the land classification for Thilagar Nagar?

Thilagar Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated in Thilagar Nagar?

Stamp duty in Thilagar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.