Guideline Value for Thilagar Street

Thilagar Street guideline value

The current guideline value of Thilagar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Thilagar Street has changed

The guideline value for Thilagar Street has seen several revisions over the years. In 2003, the value was Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the value rose significantly to Rs 700 per sq.ft in 2012, but then dropped to Rs 469 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. It is important to note that the register has no figure for Thilagar Street in 2002.

Guideline values in Padiyanallur

In Padiyanallur village, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of Thilagar Street. Below are the guideline values for other streets in Padiyanallur:

• Thangaiah Garden: Rs 660 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 660 per sq.ft (2024)
• Thiruvallur Nedunchalai (Upto Bridge): Rs 770 per sq.ft (2024)
• Teacher Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiyagaraya Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar Street?

The Sub Registrar Office that covers Thilagar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay at the time of registration.

When a property is sold, the guideline value helps to ensure that the transaction is recorded at a fair value, reflecting the current market conditions. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thilagar Street?

The current guideline value of Thilagar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 350% over the years.

What is the land classification for Thilagar Street?

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

Where can I find the Sub Registrar Office for Thilagar Street?

The Sub Registrar Office for Thilagar Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000, leading to specific fees based on this value.