Guideline Value for WORKERS NAGAR

Workers Nagar guideline value

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

How the guideline value of Workers Nagar has changed

The guideline value for Workers Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. However, from 2017 to 2023, there was an increase of 24%, bringing the value to Rs 1,000 per sq.ft. The most recent revision in 2024 marked a significant increase of 32%, raising the value to Rs 1,320 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. 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 with a 2024 guideline value range from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, indicating that the guideline value for Workers Nagar is below this median.

• Workers Nagar 1 To 4 Streets: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Workers Nagar?

The Sub Registrar Office that covers Workers Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 crucial factor during the registration process when buying or selling property in Thirusulam. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers to ensure compliance with legal requirements during property transactions. It also provides a clear framework for determining the costs associated with property registration in the area.

Frequently asked questions

What is the current guideline value of Workers Nagar?

The current guideline value of Workers Nagar 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?

Workers Nagar is classified as Residential Class III Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft would incur fees based on a total guideline value of Rs 13,20,000.