Guideline Value for Thillai Nagar 5th Street

Thillai Nagar 5th Street guideline value

The current guideline value of Thillai Nagar 5th 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 Sub Registrar Office. The land classification for this area is Residential Class I Type - I.

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

In the 2007 revision, the guideline value was Rs 1,426 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2012 revision, marking a significant rise of 110%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, which was a drop of 33%. The most recent revision in 2024 shows the guideline value at Rs 3,300 per sq.ft, reflecting an increase of 64% from the previous figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 131%. It is important to note that the register has no figures for the years 2023, 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. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Thillai Nagar 5th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Nagar 5th Street?

The Thillai Nagar 5th Street falls under 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 critical factor in the registration process when buying or selling property in Kolathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official market values set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that transactions are conducted fairly and transparently in accordance with the established guidelines.

Frequently asked questions

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

The current guideline value of Thillai Nagar 5th 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 significantly from Rs 1,426 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 131% over this period.

What is the land classification for Thillai Nagar 5th Street?

The land classification for Thillai Nagar 5th Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.