Guideline Value for Thirumalai Nagar

Thirumalai Nagar guideline value

The current guideline value of Thirumalai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Thirumalai Nagar has changed

The guideline value for Thirumalai Nagar has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 176 per sq.ft. This increased to Rs 375 per sq.ft in 2003, marking a significant rise of 113%. Following this, the value saw a further increase to Rs 900 per sq.ft in 2007, which is a growth of 140%. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, reflecting an increase of 178% from the previous revision.

In the subsequent revisions, the guideline value was Rs 1,675 per sq.ft in 2017, which represented a decrease of 33% from 2012. The next revision in 2023 set the value at Rs 2,500 per sq.ft, and finally, the current value for 2024 is Rs 2,700 per sq.ft, showing an 8% increase from the previous year. The overall change from 2002 to 2024 is a remarkable increase of 1,434%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that feature a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Thirumalai Nagar is below this median.

• Thillai Nagar Extension: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 5th Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Thillai Nagar 4th Cross Street: Rs 2,900 per sq.ft (2024)
• Thillai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Nagar

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, making the total cost of these fees Rs 2,43,000. Please 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 Thirumalai Nagar?

The Sub Registrar Office that covers Thirumalai Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO online for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is used to determine the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and consistent across the region.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar?

The current guideline value of Thirumalai Nagar 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 significantly from Rs 176 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,434% over this period.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur include Thillai Nagar Extension, Thillai Nagar 5th Street, Thillai Nagar 5th Cross Street, Thillai Nagar 4th Street, Thillai Nagar 4th Cross Street, and Thillai Nagar 3rd Street, with values ranging from Rs 2,900 to Rs 3,300 per sq.ft in 2024.

How is stamp duty calculated in Thirumalai Nagar?

Stamp duty in Thirumalai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

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

The Sub Registrar Office for Thirumalai Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information online.