Guideline Value for Thillai Nagar 4th Street

Thillai Nagar 4th Street guideline value

The current guideline value of Thillai Nagar 4th 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 4th Street has changed

Over the years, the guideline value of Thillai Nagar 4th Street has seen several revisions. The oldest recorded figure is from 2007, which was Rs 1,426 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 110%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The most recent revision in 2024 has brought the guideline value back up to Rs 3,300 per sq.ft, representing an increase of 64% from the 2017 figure. The overall change from 2007 to 2024 is an increase of 131%.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for Thillai Nagar 4th Street in the guideline value register.

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. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Thillai Nagar 4th Street.

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

Stamp duty and registration fee for property in Thillai Nagar 4th 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 cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Nagar 4th Street?

The Sub Registrar Office that covers Thillai Nagar 4th 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 the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is assessed to determine the applicable fees. This ensures transparency and consistency in the registration process, helping both buyers and sellers understand the financial obligations involved in property transactions.

Frequently asked questions

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

The current guideline value of Thillai Nagar 4th 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 from Rs 1,426 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 2,010 per sq.ft in 2017.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Thillai Nagar 4th Street?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, ensuring that these costs are based on a standardized value for transparency and consistency.