Guideline Value for Thillainayagam Pillai 3rd Street

Thillainayagam Pillai 3rd Street guideline value

The current guideline value of Thillainayagam Pillai 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thillainayagam Pillai 3rd Street has changed

The guideline value for Thillainayagam Pillai 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking an increase of 178%. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, which is an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Thillainayagam Pillai 3rd Street.

• Thillainayagam Pillai 2nd Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 4th Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 1st Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 5th Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 6th Street: Rs 2,700 per sq.ft (2024)
• Thilaiyadi Valliammai Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thillainayagam Pillai 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please 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 Thillainayagam Pillai 3rd Street?

The Sub Registrar Office that covers Thillainayagam Pillai 3rd Street is 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 Sembiam

The guideline value plays a crucial role during property registration in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thillainayagam Pillai 3rd Street?

The current guideline value of Thillainayagam Pillai 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 200% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office handles registrations for this street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Thillainayagam Pillai 3rd Street.

What is the land classification for Thillainayagam Pillai 3rd Street?

Thillainayagam Pillai 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.