Guideline Value for Thilagar Nagar

Thilagar Nagar guideline value

The current guideline value for Thilagar Nagar, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Thilagar Nagar has changed

The guideline value for Thilagar Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,077 per sq.ft in 2017. The value then rose sharply to Rs 3,100 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Thilagar Nagar. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 467%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which is equal to the current guideline value for Thilagar Nagar.

• Thirupurasundarai Nagar: Rs 2,800 per sq.ft (2024)
• Thirupurasundarai Nagar(Corner Plots): Rs 3,800 per sq.ft (2024)
• T.H.Road: Rs 5,500 per sq.ft (2024)
• Thulasiram Nagar: Rs 3,400 per sq.ft (2024)
• Srnivasa Nagar: Rs 3,400 per sq.ft (2024)
• Udayasooriyan Link Road: Rs 3,400 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 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thilagar Nagar?

The Thiruvottiyur Sub Registrar Office covers Thilagar Nagar. The office is 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 Satthankadu

The guideline value plays a crucial role in the registration of property transactions in Satthankadu. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall financial obligations during the registration process. This ensures transparency and adherence to legal requirements in property transactions.

Frequently asked questions

What is the current guideline value for Thilagar Nagar?

The current guideline value for Thilagar Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

What is the land classification for Thilagar Nagar?

Thilagar Nagar is classified as Residential Special Type - III, which influences its guideline value and property regulations.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 34,00,000, the stamp duty is Rs 2,38,000, and the registration fee is Rs 68,000, totaling Rs 3,06,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles registrations for properties in Thilagar Nagar.