Guideline Value for THADANDAR NAGAR GOVERNMENT QUARTERS

Thadandar Nagar Government Quarters guideline value

The current guideline value for Thadandar Nagar Government Quarters is Rs 5,830 per sq.ft, effective from 1 July 2024. This area is located in the Government farm village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thadandar Nagar Government Quarters has changed

The guideline value for Thadandar Nagar Government Quarters has seen several revisions over the years. In 2002, the guideline value was Rs 1,217 per sq.ft, which increased to Rs 1,374 per sq.ft in 2003, marking a change of +13%. The value then rose significantly to Rs 2,500 per sq.ft in 2007, reflecting an increase of +82%. Following this, the 2012 revision set the value at Rs 5,300 per sq.ft, showing a substantial increase of +112% from the previous revision. However, in 2017, the value decreased to Rs 3,551 per sq.ft, a drop of -33%.

From 2017 to 2023, the guideline value rose to Rs 5,300 per sq.ft, which represented an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 5,830 per sq.ft, a rise of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +379%.

Guideline values in Government farm

The Government farm village has 35 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 3,850 to Rs 15,400 per sq.ft. The median value for these streets is Rs 8,250 per sq.ft, placing Thadandar Nagar Government Quarters below this median.

• Sriram Pettai Street: Rs 3,850 per sq.ft (2024)
• Vetnary Hospital Road: Rs 9,350 per sq.ft (2024)
• West C.I.T. 3rd Main 1st Street: Rs 9,350 per sq.ft (2024)
• West C.I.T. 3rd Main 2nd Street: Rs 9,350 per sq.ft (2024)
• West C.I.T. Nagar 1st Cross Street: Rs 8,250 per sq.ft (2024)
• West C.I.T. Nagar 1st Main Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thadandar Nagar Government Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 5,830 per sq.ft, the total guideline value would be Rs 58,30,000. The stamp duty at 7% would amount to Rs 4,08,100, and the registration fee at 2% would be Rs 1,16,600, bringing the total to Rs 5,24,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thadandar Nagar Government Quarters?

The Thadandar Nagar Government Quarters is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Government farm. It serves as the basis for calculating the stamp duty and registration fees that are required during the registration process. The guideline value is essential for ensuring that the property is valued correctly for these financial obligations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the registration reflects the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value for Thadandar Nagar Government Quarters?

The current guideline value for Thadandar Nagar Government Quarters is Rs 5,830 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 1,217 per sq.ft in 2002 to Rs 5,830 per sq.ft in 2024, reflecting an overall increase of +379% over the years.

What are the stamp duty and registration fees for properties in Thadandar Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 5,24,700.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Thadandar Nagar Government Quarters, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Thadandar Nagar Government Quarters?

The land classification for Thadandar Nagar Government Quarters is Residential Class III Type - I, indicating its designation for residential purposes.