Guideline Value for Thirupathy Nagar 2nd Main Road

Thirupathy Nagar 2nd Main Road guideline value

The current guideline value of Thirupathy Nagar 2nd Main Road is Rs 4,400 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 Special Type - I.

How the guideline value of Thirupathy Nagar 2nd Main Road has changed

The guideline value for Thirupathy Nagar 2nd Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that there are no figures available for the years 2002, 2003, and 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thirupathy Nagar 2nd Main Road above this median at Rs 4,400 per sq.ft.

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

Stamp duty and registration fee for property in Thirupathy Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thirupathy Nagar 2nd Main Road?

The Sub Registrar Office that covers Thirupathy Nagar 2nd Main Road 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 in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thirupathy Nagar 2nd Main Road?

The current guideline value of Thirupathy Nagar 2nd Main Road is Rs 4,400 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 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

What is the land classification for Thirupathy Nagar 2nd Main Road?

The land classification for Thirupathy Nagar 2nd Main Road is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thirupathy Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.