Guideline Value for Thirupathy Nagar 3rd Cross Street Extension

Thirupathy Nagar 3rd Cross Street Extension guideline value

The current guideline value for Thirupathy Nagar 3rd Cross Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thirupathy Nagar 3rd Cross Street Extension has changed

The guideline value has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 3,000 per sq.ft. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023, where it was again set at Rs 3,000 per sq.ft. However, in 2024, the value increased by 10% to reach Rs 3,300 per sq.ft.

Overall, from 2007 to 2024, the guideline value has increased by 230%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value 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, which is equal to the current guideline value for Thirupathy Nagar 3rd Cross Street Extension.

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

Stamp duty and registration fee for property in Thirupathy Nagar 3rd Cross Street Extension

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 fees together to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirupathy Nagar 3rd Cross Street Extension?

The Sub Registrar Office that covers Thirupathy Nagar 3rd Cross Street Extension 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 crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when purchasing or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property being transferred. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Thirupathy Nagar 3rd Cross Street Extension?

The current guideline value for Thirupathy Nagar 3rd Cross Street Extension 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Thirupathy Nagar 3rd Cross Street Extension?

Thirupathy Nagar 3rd Cross Street Extension is classified as Residential Class I 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 Thirupathy Nagar 3rd Cross Street Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.