Guideline Value for Thilagar Street

Thilagar Street guideline value

The current guideline value of Thilagar Street in Saligramam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Thilagar Street has changed

Over the years, the guideline value of Thilagar Street has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 572 per sq.ft. This increased to Rs 625 per sq.ft in 2003, marking a 9% rise. The value continued to grow, reaching Rs 850 per sq.ft in 2007, which is a 36% increase from the previous year. By 2012, the guideline value rose to Rs 3,000 per sq.ft, reflecting a substantial increase of 253% from 2007. However, this figure then dropped to Rs 2,010 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value was recorded at Rs 3,000 per sq.ft, and it saw a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 477%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Thilagar Street's 2024 figure below this median.

• Thangal Karai Street: Rs 3,300 per sq.ft (2024)
• Telephone Colony Extension: Rs 4,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thiruvengadam Mudali Street: Rs 3,300 per sq.ft (2024)
• Thiruvengadam Swamy Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Sankaralingam Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO online.

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

The guideline value is a crucial factor during the registration process of property transactions in Saligramam. It serves as a reference for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the authorities will assess the guideline value to calculate the applicable duties. This ensures that the transaction is recorded at a value that reflects the current market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thilagar Street?

The current guideline value of Thilagar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value of Thilagar Street has increased significantly, from Rs 572 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 477%.

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

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office do I need for transactions in Thilagar Street?

The Virugambakkam Sub Registrar Office covers Thilagar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Thilagar Street?

Thilagar Street is classified as Residential Class III Type - I according to the guideline value register.