Guideline Value for Thirupathy Nagar 2nd Cross Street

Thirupathy Nagar 2nd Cross Street guideline value

The current guideline value of Thirupathy Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO with a land classification of Residential Class I Type - I.

How the guideline value of Thirupathy Nagar 2nd Cross Street has changed

The guideline value for Thirupathy Nagar 2nd Cross Street has seen several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. This figure remained unchanged until the 2023 revision, where it was again Rs 3,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Thirupathy Nagar 2nd Cross Street.

• Thirupathy Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 2nd Cross Street Extension: Rs 3,300 per sq.ft (2024)
• Thirupathy Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 1st Cross Street Extension: Rs 3,300 per sq.ft (2024)
• Thirupathy Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathy Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Thirupathy Nagar 2nd Cross Street?

The Sub Registrar Office that covers Thirupathy Nagar 2nd Cross 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 Kolathur

The guideline value is a critical factor during the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Thirupathy Nagar 2nd Cross Street?

The current guideline value of Thirupathy Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office should I contact for registration in Thirupathy Nagar 2nd Cross Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, is the office responsible for registration in this area.

What is the significance of the guideline value in property transactions?

The guideline value is used as a reference for the minimum registration value of a property, ensuring that the government collects appropriate stamp duty and registration fees during property transactions.