Guideline Value for Small Street

Small Street guideline value

The current guideline value of Small Street in Thirumangalam village is Rs 605 per sq.ft, effective from 1 July 2024. This falls under the Residential Class IV Type - I land classification and is registered with the Sunguvarchattram SRO.

How the guideline value of Small Street has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure saw a significant increase in the 2017 revision, rising to Rs 405 per sq.ft, marking a change of +103%. The subsequent 2023 revision maintained the value at Rs 605 per sq.ft, reflecting a +49% increase from the 2017 figure. The 2024 revision also holds the value steady at Rs 605 per sq.ft, indicating no change from the previous year.

The register has no figures for Small Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by +203%.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, which is equal to the guideline value of Small Street.

• SriBalaji Nagar: Rs 600 per sq.ft (2024)
• SriDurgaiamman Kovil Street: Rs 400 per sq.ft (2024)
• Sagaya Avenue: Rs 600 per sq.ft (2024)
• R.B.S Nagar: Rs 600 per sq.ft (2024)
• Ramar Kovil street: Rs 605 per sq.ft (2024)
• Rajiv Ideal Farms: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Small Street

For a 1,000 sq.ft plot at the current rate of Rs 605 per sq.ft, the guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, totaling Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Small Street?

The Sub Registrar Office that covers Small Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumangalam. It serves as a reference point for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value assigned to the property. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Small Street?

The current guideline value of Small Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, representing an overall increase of +203% over this period.

Which Sub Registrar Office covers Small Street?

Small Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What are the stamp duty and registration fees for Small Street?

For a 1,000 sq.ft plot on Small Street, the total stamp duty and registration fees would amount to Rs 54,450, based on the current guideline value of Rs 6,05,000.

What is the land classification for Small Street?

Small Street falls under the Residential Class IV Type - I land classification, which is relevant for determining its guideline value and usage.