Guideline Value for Thillai Nagar Extension

Thillai Nagar Extension guideline value

The current guideline value of Thillai Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Thillai Nagar Extension has changed

The guideline value for Thillai Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 404 per sq.ft. This increased significantly to Rs 1,426 per sq.ft in 2007, marking a 253% rise. In 2012, the value reached Rs 3,000 per sq.ft, representing a 110% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a substantial increase of 64% from 2017.

Overall, from 2003 to 2024, the guideline value has increased by 717%. It is important to note that there are no figures available for the years 2023 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 the median being Rs 3,300 per sq.ft. The guideline value of Thillai Nagar Extension aligns with this median.

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

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 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 Extension?

The Sub Registrar Office that covers Thillai Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, helping to standardize property transactions. Buyers and sellers should be aware of the guideline value as it directly impacts the overall costs associated with property transfers.

Frequently asked questions

What is the current guideline value of Thillai Nagar Extension?

The current guideline value of Thillai Nagar Extension 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 404 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 717% over this period.

What is the land classification of Thillai Nagar Extension?

Thillai Nagar Extension is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 registrations for properties in Thillai Nagar Extension.

How is stamp duty calculated for properties in Thillai Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.