Guideline Value for Thillai Nagar 2nd Cross Street

Thillai Nagar 2nd Cross Street guideline value

The current guideline value of Thillai Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Thillai Nagar 2nd Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,426 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012. However, there was a decrease to Rs 1,809 per sq.ft in 2017. The value then rose significantly to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2007 to 2012, the value increased by 89%, but then dropped by 33% from 2012 to 2017. The value saw a substantial rise of 49% from 2017 to 2023, and a further increase of 7% from 2023 to 2024. The overall change from 2007 to 2024 reflects an increase of 103%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, placing Thillai Nagar 2nd Cross Street's 2024 figure below that median.

• Thillai Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 1st Cross Street: Rs 2,900 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 2nd 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 would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees together to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thillai Nagar 2nd Cross Street?

The Sub Registrar Office that covers Thillai Nagar 2nd 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 a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable charges. If the sale price is higher than the guideline value, the duty is levied on the sale price instead, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thillai Nagar 2nd Cross Street?

The current guideline value of Thillai Nagar 2nd 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, reflecting an overall increase of 103% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 29,00,000, the total fees would be Rs 2,61,000.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations in Kolathur, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Thillai Nagar 2nd Cross Street?

Thillai Nagar 2nd Cross Street is classified as Residential Class I Type - II.