Guideline Value for Thillai Nagar 3rd Cross Street

Thillai Nagar 3rd Cross Street guideline value

The current guideline value of Thillai Nagar 3rd Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - II.

How the guideline value of Thillai Nagar 3rd Cross Street has changed

The guideline value for Thillai Nagar 3rd Cross Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,426 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision shows an increase to Rs 2,900 per sq.ft, marking a 7% rise from the previous year.

Between the 2007 and 2012 revisions, there was an 89% increase in the guideline value. Overall, from 2007 to 2024, the guideline value has increased by 103%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

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

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

Stamp duty and registration fee for property in Thillai Nagar 3rd 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, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Nagar 3rd Cross Street?

The Sub Registrar Office that covers Thillai Nagar 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the financial obligations associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty will be applied to the higher of the two.

Frequently asked questions

What is the current guideline value of Thillai Nagar 3rd Cross Street?

The current guideline value of Thillai Nagar 3rd 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 increased from Rs 1,426 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 103%.

What is the stamp duty rate for properties in Thillai Nagar 3rd Cross Street?

The stamp duty rate for properties in Thillai Nagar 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur have varying guideline values, with rates ranging from Rs 2,200 to Rs 6,000 per sq.ft. For instance, Thillai Nagar 1st Street and 2nd Street are valued at Rs 3,300 per sq.ft in 2024.