Guideline Value for Thirunageswaram Colony 1

Thirunageswaram Colony 1 guideline value

The current guideline value for Thirunageswaram Colony 1 is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Thirunageswaram village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Thirunageswaram Colony 1 has changed

The guideline value for Thirunageswaram Colony 1 has undergone several revisions over the years. The 2012 revision listed the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision set it at Rs 800 per sq.ft, reflecting a 14% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, there has been a 14% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,550 per sq.ft. Thirunageswaram Colony 1's 2024 figure is below this median.

• Thirunages-Colony/ MGR Nagar & Lane: Rs 800 per sq.ft (2024)
• Thirunageswaram Colony II: Rs 800 per sq.ft (2024)
• Thirunageswaram Colony Navidhar Street: Rs 800 per sq.ft (2024)
• Thirunavukarasar Salai: Rs 1,550 per sq.ft (2024)
• Thiruvalluvar Nagar Anna Salai: Rs 1,550 per sq.ft (2024)
• Thiruvalluvar Nagar Avvaiyar Salai: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thirunageswaram Colony 1

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirunageswaram Colony 1?

The Sub Registrar Office covering Thirunageswaram Colony 1 is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirunageswaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is officially documented and taxed appropriately.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction reflects the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value for Thirunageswaram Colony 1?

The current guideline value for Thirunageswaram Colony 1 is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 800 per sq.ft in 2024.

What is the land classification for Thirunageswaram Colony 1?

Thirunageswaram Colony 1 is classified as Residential Class I Type - III.

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

Other streets in Thirunageswaram include Thirunages-Colony/ MGR Nagar & Lane, Thirunageswaram Colony II, and Thirunageswaram Colony Navidhar Street, all at Rs 800 per sq.ft for 2024, while Thirunavukarasar Salai, Thiruvalluvar Nagar Anna Salai, and Thiruvalluvar Nagar Avvaiyar Salai are at Rs 1,550 per sq.ft.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.