Guideline Value for Thillai Nagar 5th Cross Street

Thillai Nagar 5th Cross Street guideline value

The current guideline value of Thillai Nagar 5th 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 with a land classification of Residential Class I Type - II.

How the guideline value of Thillai Nagar 5th Cross Street has changed

The guideline value for Thillai Nagar 5th Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,900 per sq.ft, which is an increase of 7% from the 2023 revision of Rs 2,700 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 2,700 per sq.ft, indicating no change from the previous year. The 2007 revision marked a significant increase, with the value rising to Rs 1,426 per sq.ft from the previous figures.

From 2007 to 2012, the guideline value increased by 89%, while the overall increase from 2007 to 2024 is 103%. Notably, there are no figures available for the years 2017, 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, with a median value of Rs 3,300 per sq.ft. The guideline value for Thillai Nagar 5th Cross Street is below this median.

• Thillai Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 4th Cross Street: Rs 2,900 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 5th 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, bringing the total to Rs 2,61,000. It is important to note that 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 details.

Which Sub Registrar Office covers Thillai Nagar 5th Cross Street?

The Sub Registrar Office that covers Thillai Nagar 5th 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 plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guidelines set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thillai Nagar 5th Cross Street?

The current guideline value of Thillai Nagar 5th 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 is the land classification for Thillai Nagar 5th Cross Street?

Thillai Nagar 5th Cross Street is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office covering Thillai Nagar 5th Cross Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Thillai Nagar 5th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,03,000 at the current guideline value.