Guideline Value for Thilak Nagar

Thilak Nagar guideline value

The current guideline value of Thilak Nagar, located in Arambakkam village under the Gooduvancheri SRO, is Rs 600 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Thilak Nagar has changed

In the 2007 revision, the guideline value was Rs 160 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 600 per sq.ft, marking a 275% increase. However, in the 2017 revision, the value dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The guideline value then increased again in the 2023 revision to Rs 600 per sq.ft, maintaining the same rate through to the 2024 revision, resulting in no percentage change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 275%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft, with the median value being Rs 600 per sq.ft. Thilak Nagar's 2024 figure aligns with this median value.

• Subramaniaya Nagar: Rs 400 per sq.ft (2024)
• SRI Subramaniyar Nagar ExTN: Rs 500 per sq.ft (2024)
• Sri Srinivasa Perumal Nagar Extn: Rs 400 per sq.ft (2024)
• Sri Srinivasa Perumal Nagar: Rs 600 per sq.ft (2024)
• Sri Sai Muruga Garden: Rs 600 per sq.ft (2024)
• Sri Sai Green Homes: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Thilak Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thilak Nagar?

Thilak Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Arambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Thilak Nagar?

The current guideline value of Thilak Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 160 per sq.ft to Rs 600 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Thilak Nagar?

Thilak Nagar is classified as Residential Special Type - I, which influences its guideline value and usage in property transactions.

Where can I find the Sub Registrar Office for Thilak Nagar?

The Gooduvancheri Sub Registrar Office covers Thilak Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thilak Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 6,00,000 incurs a stamp duty of Rs 42,000 at 7%.