Guideline Value for Thillainayagam Pillai 6th Street

Thillainayagam Pillai 6th Street guideline value

The current guideline value of Thillainayagam Pillai 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thillainayagam Pillai 6th Street has changed

The guideline value for Thillainayagam Pillai 6th Street has seen several revisions over the years. The earliest revision listed is from 2007, where the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The value surged again to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024, which is an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 200%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the 2024 figure for Thillainayagam Pillai 6th Street.

• Thillainayagam Pillai 5th Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 4th Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 3rd Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 2nd Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 1st 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillainayagam Pillai 6th Street?

The Sub Registrar Office that covers Thillainayagam Pillai 6th 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 is a critical factor when it comes to property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both legal and financial purposes. This value is also used by the Registration Department to calculate the applicable fees, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Thillainayagam Pillai 6th Street?

The current guideline value of Thillainayagam Pillai 6th 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 an overall increase of 200% over the years.

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 office handles property registrations in Sembiam?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations in this area.

What is the land classification for Thillainayagam Pillai 6th Street?

The land classification for Thillainayagam Pillai 6th Street is Residential Class I Type - I, indicating its suitability for residential purposes.