Guideline Value for Thilagar St

Thilagar St guideline value

The current guideline value of Thilagar St in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Thilagar St has changed

The guideline value for Thilagar St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Thilagar St.

• Thenupurishvarar street: Rs 1,650 per sq.ft (2024)
• Thirukkural 2nd Street: Rs 2,750 per sq.ft (2024)
• Thirukkural 3rd Street: Rs 2,750 per sq.ft (2024)
• Thirukkural 3rd Street Ext: Rs 2,750 per sq.ft (2024)
• Thirukkural Ist Street: Rs 2,750 per sq.ft (2024)
• Thenaliraman Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please note that the 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 St?

Thilagar St is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented at a fair value as determined by the government.

When a property is sold, the buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thilagar St?

The current guideline value of Thilagar St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for Thilagar St?

Thilagar St is classified as Residential Class I Type - III, indicating its designation for residential purposes within the area.

Where can I find the registration office for Thilagar St?

The registration office for Thilagar St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.