Guideline Value for Thirupathy Nagar 8th Street

Thirupathy Nagar 8th Street guideline value

The current guideline value of Thirupathy Nagar 8th Street is Rs 4,400 per sq.ft. 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 8th Street has changed

Over the years, the guideline value of Thirupathy Nagar 8th Street has seen significant changes. The earliest recorded figure was Rs 1,000 per sq.ft in 2007, which increased to Rs 4,000 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw a further increase to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

The 2007 to 2012 revision reflected a substantial increase of 300%, while there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 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, with a median value of Rs 3,300 per sq.ft. Thirupathy Nagar 8th Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Thirupathy Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Thirupathy Nagar 5th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathy Nagar 8th 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 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 precise calculations.

Which Sub Registrar Office covers Thirupathy Nagar 8th Street?

The Sub Registrar Office that covers Thirupathy Nagar 8th 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 plays a crucial role in property transactions in Kolathur. It is the benchmark used by the registration department to assess the value of property for registration purposes. When buying or selling property, the guideline value is taken into consideration to determine the applicable stamp duty and registration fees.

Additionally, the guideline value ensures that the transactions are conducted at a fair value as determined by the local government, thereby preventing undervaluation of properties. This helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Thirupathy Nagar 8th Street?

The current guideline value of Thirupathy Nagar 8th 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 median guideline value in Kolathur?

The median guideline value in Kolathur for 2024 is Rs 3,300 per sq.ft, with Thirupathy Nagar 8th Street's value being above this median.

What are the stamp duty rates for property in Thirupathy Nagar 8th Street?

The stamp duty for property in Thirupathy Nagar 8th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information online.