Guideline Value for Thulasi Nagar

Thulasi Nagar guideline value

The current guideline value of Thulasi Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Thulasi Nagar has changed

The guideline value for Thulasi Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 857 per sq.ft. This increased to Rs 1,300 per sq.ft in 2012, followed by a decrease to Rs 871 per sq.ft in 2017. The value then rose significantly to Rs 1,300 per sq.ft in 2023, before reaching the current figure of Rs 1,430 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes are as follows: from 2007 to 2012, there was an increase of 52%; however, from 2012 to 2017, the value decreased by 33%. The value saw a remarkable increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 67%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Thulasi Nagar's 2024 figure below this median.

• Thulasi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Thiruverkkadu Road: Rs 2,090 per sq.ft (2024)
• Thiruverkadu Co-operative Nagar PhaseIII&Part1,2: Rs 1,540 per sq.ft (2024)
• Vallaler Street: Rs 1,540 per sq.ft (2024)
• Vaniyar Street: Rs 1,320 per sq.ft (2024)
• Vanuver Veethi: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% is Rs 1,00,100, while the registration fee at 2% is Rs 28,600, making the total fees together Rs 1,28,700. It is important 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 information.

Which Sub Registrar Office covers Thulasi Nagar?

The Sub Registrar Office that covers Thulasi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

When buying or selling property in Chennerkuppam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. Buyers must ensure that the transaction is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

The guideline value is periodically revised to reflect changes in the real estate market and is used by the Registration Department to assess the value of properties for taxation purposes. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Thulasi Nagar?

The current guideline value of Thulasi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 857 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 67% over the years.

What are the stamp duty and registration fees for property in Thulasi Nagar?

For a property valued at Rs 14,30,000, the stamp duty is Rs 1,00,100 and the registration fee is Rs 28,600, totaling Rs 1,28,700.

Which Sub Registrar Office covers Thulasi Nagar?

The Kunrathur Sub Registrar Office covers Thulasi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential to register the property at either the guideline value or the sale price, whichever is higher.