Guideline Value for Thiru Nagar-1

Thiru Nagar-1 guideline value

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

How the guideline value of Thiru Nagar-1 has changed

The guideline value for Thiru Nagar-1 has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017 before rising significantly to Rs 500 per sq.ft in 2023. The most recent revision in 2024 saw the guideline value increase to Rs 550 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, making Thiru Nagar-1's current value equal to this median.

• Thiru Nagar: Rs 550 per sq.ft (2024)
• Thirumullai Lake View Garden: Rs 440 per sq.ft (2024)
• Thiru Nagar II: Rs 550 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-1

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 at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thiru Nagar-1?

The Sub Registrar Office that covers Thiru Nagar-1 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 plays a crucial role in the registration process when buying or selling property in Pothur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the fees.

When a property is registered, the guideline value is referenced to ensure compliance with government regulations. This helps maintain transparency in property transactions and provides a benchmark for property values within the area.

Frequently asked questions

What is the current guideline value of Thiru Nagar-1?

The current guideline value of Thiru Nagar-1 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 the years.

What are the stamp duty and registration fees for property in Thiru Nagar-1?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty at 7% amounts to Rs 38,500, and the registration fee at 2% is Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Thiru Nagar-1?

The Redhills Sub Registrar Office covers Thiru Nagar-1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Thiru Nagar-1?

The land classification for Thiru Nagar-1 is Residential Class I Type - I, indicating its designation for residential purposes.