Guideline Value for Thiruvalluvar Nagar Extension

Thiruvalluvar Nagar Extension guideline value

The current guideline value for Thiruvalluvar Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruvalluvar Nagar Extension has changed

The guideline value for Thiruvalluvar Nagar Extension has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 400 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 150%. By 2012, the value reached Rs 2,500 per sq.ft, which was a further increase of 150% from the previous figure. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, showing an increase of 61% from the 2017 figure. The register has no figure for the years 2023 and 2002 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 guideline value in this area is Rs 3,300 per sq.ft, placing Thiruvalluvar Nagar Extension's 2024 figure below that median.

• Thiruvalluvar Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees total Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruvalluvar Nagar Extension?

The Sub Registrar Office that covers Thiruvalluvar Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is an important factor when registering properties in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps in establishing a fair assessment for taxation purposes. It is crucial for both parties to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Nagar Extension?

The current guideline value of Thiruvalluvar Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, marking a total increase of 575% over the years.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, with Thiruvalluvar Nagar Extension's current value being below this median.

What are the stamp duty rates for property in Thiruvalluvar Nagar Extension?

The stamp duty for property in Thiruvalluvar Nagar Extension is charged at 7% of the guideline value or 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 also find more information online.