Guideline Value for T.N.H.B.SHOPPING COMPLEX THIRUMANGALAM JUNCTION (NEAR ASIAD COLONY)

T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) guideline value

The current guideline value for T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) is Rs 8,200 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) has changed

The guideline value for this location has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,750 per sq.ft. In 2007, it increased significantly to Rs 2,100 per sq.ft, marking a 20% rise. The 2012 revision saw the value increase to Rs 7,500 per sq.ft, which was a substantial 257% jump from 2007. However, in 2017, the value decreased to Rs 5,025 per sq.ft, representing a 33% drop. The 2023 revision brought it back up to Rs 7,500 per sq.ft, and the most recent 2024 revision set the value at Rs 8,200 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 369%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 3,800 per sq.ft, placing T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) above that median.

• T.S.Krishna Nagar: Rs 7,100 per sq.ft (2024)
• T.V.S.Avenue 33rd Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 34th Street: Rs 6,600 per sq.ft (2024)
• T.V.S.AVENUE 35th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.AVENUE 36th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.AVENUE 37th STREET: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that the 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 T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony)?

The T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for T.N.H.B.Shopping Complex Thirumangalam Junction?

The current guideline value for T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,750 per sq.ft in 2003 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 369% over this period.

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

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the area?

The Villivakkam Sub Registrar Office covers T.N.H.B.Shopping Complex Thirumangalam Junction, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for T.N.H.B.Shopping Complex Thirumangalam Junction?

The land classification for T.N.H.B.Shopping Complex Thirumangalam Junction (Near Asiad Colony) is Residential Class I Type - III.