Guideline Value for WORKERS NAGAR 1 TO 4 STREETS

Workers Nagar 1 To 4 Streets guideline value

The current guideline value for Workers Nagar 1 To 4 Streets is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thirusulam village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Workers Nagar 1 To 4 Streets has changed

The guideline value for Workers Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,320 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a notable decrease of 33%. However, from 2017 to 2023, the value increased by 24%, and from 2023 to 2024, it rose by 32%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,080 to Rs 2,750 per sq.ft, with a median value of Rs 1,940 per sq.ft. The guideline value for Workers Nagar 1 To 4 Streets is below this median.

• Workers Nagar: Rs 1,320 per sq.ft (2024)
• Yadaval Street: Rs 1,320 per sq.ft (2024)
• Voc Street Ext: Rs 1,100 per sq.ft (2024)
• Voc Street: Rs 1,100 per sq.ft (2024)
• Venkateshwara Avenue 4 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 3 Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Workers Nagar 1 To 4 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Workers Nagar 1 To 4 Streets?

The Sub Registrar Office that covers Workers Nagar 1 To 4 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thirusulam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property should be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Workers Nagar 1 To 4 Streets?

The current guideline value for Workers Nagar 1 To 4 Streets is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Workers Nagar 1 To 4 Streets?

Workers Nagar 1 To 4 Streets is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Workers Nagar 1 To 4 Streets?

The Pallavaram Sub Registrar Office covers Workers Nagar 1 To 4 Streets. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.