Guideline Value for Thillai Nagar 1st Street

Thillai Nagar 1st Street guideline value

The current guideline value of Thillai Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for Thillai Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,426 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 110%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing an increase of 64% from 2017.

Overall, from 2007 to 2024, the guideline value has risen by 131%. It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

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

• Thillai Nagar 1st Cross Street: Rs 2,900 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 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 charges 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Nagar 1st Street?

The Sub Registrar Office that covers Thillai Nagar 1st 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 a crucial factor in the registration process for properties in Kolathur. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,426 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 131% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Thillai Nagar 1st Street?

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

What is the land classification for Thillai Nagar 1st Street?

The land classification for Thillai Nagar 1st Street is Residential Class I Type - I.