Guideline Value for St.THOMAS NAGAR

St.THOMAS NAGAR guideline value

The current guideline value of St.THOMAS NAGAR is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Mixed Type - II land.

How the guideline value of St.THOMAS NAGAR has changed

The guideline value for St.THOMAS NAGAR has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has brought it to Rs 2,700 per sq.ft.

From 2017 to 2023, there was a remarkable increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of St.THOMAS NAGAR.

• Sudarasana Prasad Nagar: Rs 2,350 per sq.ft (2024)
• Sri Visalatchi Nagar East: Rs 3,200 per sq.ft (2024)
• Sri Visalakshi Street: Rs 2,200 per sq.ft (2024)
• Sri Visalakshi Nagar: Rs 3,300 per sq.ft (2024)
• Suseela Avenue: Rs 3,300 per sq.ft (2024)
• Suseela Nagar: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in St.THOMAS NAGAR

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to 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, totaling Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers St.THOMAS NAGAR?

The Sub Registrar Office covering St.THOMAS NAGAR is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is essential when it comes to registering property transactions in Vengaivasal. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for any property sale or purchase.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation or overvaluation. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of St.THOMAS NAGAR?

The current guideline value of St.THOMAS 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in St.THOMAS NAGAR?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office handles registrations for St.THOMAS NAGAR?

The Selaiyur Sub Registrar Office handles registrations for St.THOMAS NAGAR, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of St.THOMAS NAGAR?

St.THOMAS NAGAR is classified as Mixed Type - II land, which indicates a blend of residential and commercial usage in the area.