Guideline Value for Thillai Nagar

Thillai Nagar guideline value

The current guideline value of Thillai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Somangalam_B village, under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thillai Nagar has changed

In the 2017 revision, the guideline value was set at Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 200 per sq.ft. The current 2024 revision also maintains the guideline value at Rs 200 per sq.ft, resulting in a 49% increase from the 2017 figure to the 2024 figure.

The revisions for the years 2002, 2003, 2007, and 2012 do not have any figures recorded for Thillai Nagar. Therefore, the most recent changes reflect a steady value from 2023 to 2024, with no percentage increase during that period.

Guideline values in Somangalam_B

There are 79 streets in Somangalam_B under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, indicating that Thillai Nagar's 2024 figure is below this median.

• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)
• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)
• Thiruvallur Road: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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?

The Sub Registrar Office that covers Thillai Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Somangalam_B, as it determines the minimum price at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, it is essential to consider the guideline value, as it ensures that the transaction is compliant with local regulations. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher value will be used for calculating duties.

Frequently asked questions

What is the current guideline value of Thillai Nagar?

The current guideline value of Thillai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 134 per sq.ft to Rs 200 per sq.ft in 2024, marking a 49% increase. There have been no changes in the guideline value from 2023 to 2024.

What is the land classification for Thillai Nagar?

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

What are the stamp duty and registration fees for property in Thillai Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Thillai Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Thillai Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.