Guideline Value for Thillai Nagar 4th Cross Street

Thillai Nagar 4th Cross Street guideline value

The current guideline value of Thillai Nagar 4th 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. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thillai Nagar 4th Cross Street has changed

Over the years, the guideline value for Thillai Nagar 4th Cross Street has seen several revisions. The 2007 revision set the value at Rs 1,426 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the value to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. From the 2007 revision to the 2024 revision, the overall increase in the guideline value is 103%.

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, with a median value of Rs 3,300 per sq.ft. Thillai Nagar 4th Cross Street's 2024 guideline value is below this median.

• Thillai Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 5th Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Nagar 4th 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 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.

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

Which Sub Registrar Office covers Thillai Nagar 4th Cross Street?

The Sub Registrar Office that covers Thillai Nagar 4th 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 plays a crucial role in the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in assessing the legal value of the property, which is essential for both the buyer and seller. This value is particularly important for calculating the taxes involved in the transaction.

Frequently asked questions

What is the current guideline value for Thillai Nagar 4th Cross Street?

The current guideline value for Thillai Nagar 4th 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, representing an overall increase of 103% over the years.

What are the stamp duty and registration fees for properties on this street?

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

Which Sub Registrar Office handles the registration for this area?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Thillai Nagar 4th Cross Street.

What is the land classification for Thillai Nagar 4th Cross Street?

The land classification for Thillai Nagar 4th Cross Street is Residential Class I Type - II, indicating its suitability for residential development.