Guideline Value for Thirupathy Nagar 2nd Street

Thirupathy Nagar 2nd Street guideline value

The current guideline value for Thirupathy Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

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

The guideline value for Thirupathy Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, which represents a 64% increase from the 2017 figure.

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

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO that have a guideline value for 2024, 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, making the guideline value for Thirupathy Nagar 2nd Street above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be 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 essential 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 more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Thirupathy Nagar 2nd Street?

The Thirupathy Nagar 2nd Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted at a fair and standardized rate.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. 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 Street?

The current guideline value of Thirupathy Nagar 2nd Street 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, reflecting an overall increase of 340% over the years.

What is the land classification for Thirupathy Nagar 2nd Street?

Thirupathy Nagar 2nd Street is classified as Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

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