Guideline Value for THAMARAI AVENUE

Thamarai Avenue guideline value

The current guideline value of Thamarai Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Thamarai Avenue has changed

The guideline value for Thamarai Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 109 per sq.ft. This increased to Rs 121 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a 231% increase. By 2012, the guideline value was Rs 2,500 per sq.ft, which was a substantial 525% increase from the previous revision. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%.

In the subsequent revisions, the value rose to Rs 2,500 per sq.ft in 2023, and then to the current Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,423%.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Thamarai Avenue's current value above this median.

• THANTHAI PERIYAR NAGAR - Alagiri Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Angamuthu Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Anna Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Anna Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Anna Salai 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Anna Salai 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Thamarai Avenue?

The Sub Registrar Office that covers Thamarai Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a reference point for calculating stamp duty and registration fees, which are mandatory during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Thamarai Avenue?

The current guideline value of Thamarai Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 109 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2,423% over this period.

What is the land classification of Thamarai Avenue?

Thamarai Avenue is classified as Residential Class III Type - I.

What is the registration office for Thamarai Avenue?

The registration office for Thamarai Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in Thamarai Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500.