Guideline Value for SRI THANIGAI NAGAR

Sri Thanigai Nagar guideline value

The current guideline value of Sri Thanigai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Veligaram village under the Pallipattu SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Thanigai Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. However, in the 2017 revision, it decreased to Rs 134 per sq.ft, reflecting a change of -33%. The value then increased significantly to Rs 200 per sq.ft in the 2023 revision, marking a 49% increase from the previous revision. The current 2024 revision maintains this value at Rs 200 per sq.ft, showing no change from the 2023 figure.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, the guideline value from 2012 to 2024 has remained the same at Rs 200 per sq.ft.

Guideline values in Veligaram

In Veligaram, there are six streets under the Pallipattu SRO that carry a 2024 guideline value, ranging from Rs 102 to Rs 200 per sq.ft. The median value for these streets is Rs 126 per sq.ft, placing Sri Thanigai Nagar's value above this median.

• Sri Lakshmi Narasimma Nagar: Rs 102 per sq.ft (2024)
• Sri Annamalaiyar Nagar: Rs 200 per sq.ft (2024)
• Somanatha Eswarar Nagar: Rs 102 per sq.ft (2024)
• Right Choice Thirumala Garden: Rs 150 per sq.ft (2024)
• Hari Gold City: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Thanigai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Thanigai Nagar?

The Sub Registrar Office that covers Sri Thanigai Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Veligaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is assessed to establish the minimum value for taxation purposes. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Thanigai Nagar?

The current guideline value of Sri Thanigai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 200 per sq.ft in 2023 and 2024. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Sri Thanigai Nagar?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 18,000.

Which office handles property registrations for Sri Thanigai Nagar?

The Pallipattu Sub Registrar Office handles property registrations for Sri Thanigai Nagar, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.