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 area is located in Koozhangacheri village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Thillai Nagar has changed

Over the years, the guideline value of Thillai Nagar has seen several revisions. In 2007, the guideline value was Rs 20 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012, marking a rise of 900%. However, from 2012 to 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The value then rose again to Rs 200 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 200 per sq.ft. The overall change from 2007 to 2024 reflects a substantial increase of 900%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koozhangacheri

Koozhangacheri village has a total of 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,200 per sq.ft. The median guideline value for the village is Rs 226 per sq.ft, placing Thillai Nagar's current value below this median.

• Theru Veethiamman Kovil Street: Rs 200 per sq.ft (2024)
• Thirumagal Nagar: Rs 350 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 250 per sq.ft (2024)
• Vansanthapuram: Rs 200 per sq.ft (2024)
• Vasantha Garden: Rs 200 per sq.ft (2024)
• Vasantham Nagar: 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 guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is calculated at 7%, which totals Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be 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 details, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Koozhangacheri. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is documented at a fair rate.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency and compliance with local regulations.

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?

The guideline value has changed significantly, increasing from Rs 20 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, and then again to Rs 200 per sq.ft in 2023 and 2024, with fluctuations in between.

What is the median guideline value in Koozhangacheri?

The median guideline value in Koozhangacheri is Rs 226 per sq.ft, which is higher than the current value of Thillai Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Thillai Nagar?

The Sub Registrar Office for Thillai Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.