Guideline Value for Thillai Nagar 1st Cross Street

Thillai Nagar 1st Cross Street guideline value

The current guideline value of Thillai Nagar 1st Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thillai Nagar 1st Cross Street has changed

The guideline value for Thillai Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,426 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012. However, this value dropped to Rs 1,809 per sq.ft in 2017. The most recent figures show a significant increase to Rs 2,700 per sq.ft in 2023, followed by a further rise to Rs 2,900 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 7% increase. Overall, from 2007 to 2024, the guideline value has risen by 103%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value for Thillai Nagar 1st Cross Street is below this median.

• Thillai Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 2nd Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 4th Cross Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thillai Nagar 1st Cross Street?

The Sub Registrar Office that covers Thillai Nagar 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and transparently. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thillai Nagar 1st Cross Street?

The current guideline value of Thillai Nagar 1st Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,426 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 103% over this period.

What are the stamp duty and registration fees for property in Thillai Nagar 1st Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,00,000. The stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office is responsible for Thillai Nagar 1st Cross Street?

The Sembiam Sub Registrar Office is responsible for Thillai Nagar 1st Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What classification does Thillai Nagar 1st Cross Street fall under?

Thillai Nagar 1st Cross Street is classified as Residential Class I Type - II.