Guideline Value for Thulasi Nagar

Thulasi Nagar guideline value

The current guideline value of Thulasi Nagar 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 Thulasi Nagar has changed

The guideline value for Thulasi Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 274 per sq.ft, which increased to Rs 298 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, reflecting a 135% change. The 2012 revision set the value at Rs 2,500 per sq.ft, showing a remarkable 257% increase from the previous revision.

In 2017, the guideline value dropped to Rs 1,675 per sq.ft, a decrease of 33%. However, the most recent revision in 2024 has raised the value to Rs 2,700 per sq.ft, which is an increase of 61% from 2017. Notably, there is no figure available for the year 2023 in the register 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. The guideline value for Thulasi Nagar is below this median.

• Thiru.V.K. Nagar / Street: Rs 2,700 per sq.ft (2024)
• T.N.H.B. Colony: Rs 2,700 per sq.ft (2024)
• Thiruveedhiamman Koil Street: Rs 2,700 per sq.ft (2024)
• Thiruveedhiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 2nd Cross Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to 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. 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is referenced to calculate the applicable taxes. It is essential to note that the duty is charged on the higher of the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thulasi Nagar?

The current guideline value of Thulasi Nagar 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 changed significantly from Rs 274 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 885% over the years.

What is the land classification for Thulasi Nagar?

Thulasi Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for the area.

How is the stamp duty calculated in Thulasi Nagar?

Stamp duty in Thulasi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.