Guideline Value for Thiru Nagar II

Thiru Nagar II guideline value

The current guideline value of Thiru Nagar II in Pothur village, under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Thiru Nagar II has changed

Over the years, the guideline value of Thiru Nagar II has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 550 per sq.ft. Notably, the register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 67% from 2007 to 2012, decreased by 33% from 2012 to 2017, and rose by 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Pothur

Pothur village has 98 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, making Thiru Nagar II's current guideline value equal to this median.

• Thiru Nagar-1: Rs 550 per sq.ft (2024)
• Thiru Nagar: Rs 550 per sq.ft (2024)
• Thirumullai Lake View Garden: Rs 440 per sq.ft (2024)
• Thai Nagar: Rs 550 per sq.ft (2024)
• Thaiman Nagar: Rs 550 per sq.ft (2024)
• Super Dhoni Nagr: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is calculated at 7%, resulting in Rs 38,500, while the registration fee at 2% amounts to Rs 11,000. Together, the total cost for these fees is Rs 49,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru Nagar II?

The Sub Registrar Office that covers Thiru Nagar II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pothur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

This system helps maintain transparency in property transactions. Buyers and sellers should be aware that the guideline value may differ from the sale price, but the fees will be calculated based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Thiru Nagar II?

The current guideline value of Thiru Nagar II is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty is Rs 38,500, and the registration fee is Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Thiru Nagar II?

The Redhills Sub Registrar Office covers Thiru Nagar II, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Thiru Nagar II?

Thiru Nagar II falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.