Guideline Value for Thillai Nagar

Thillai Nagar guideline value

The current guideline value of Thillai Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Thillai Nagar has changed

Over the years, the guideline value of Thillai Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, marking a significant increase from the 2017 revision, which was Rs 804 per sq.ft. The 2012 revision was Rs 1,200 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, the guideline value increased by 8% from 2012 to 2024.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street. The increase from 2017 to 2024 is 62%, indicating a notable rise in the guideline value in recent years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Thillai Nagar's 2024 figure below the median.

• Thillaiyadi Valliammai Nagar: Rs 1,300 per sq.ft (2024)
• Thillaiyadi Valliammai St ( Ward No.16 ): Rs 1,300 per sq.ft (2024)
• Thilagar St ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Thilagar St ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Thilagar St (Ward-28): Rs 1,300 per sq.ft (2024)
• Thilagar Street (Ponniamman Medu): Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Madhavaram, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

The guideline value helps in establishing a standard for property transactions, providing transparency and consistency in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Thillai Nagar?

The current guideline value of Thillai Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024, reflecting a 62% increase from 2017 to 2024.

What is the land classification of Thillai Nagar?

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

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

The Sub Registrar Office for Thillai Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Thillai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.