Guideline Value for THAMARAI NAGAR

Thamarai Nagar guideline value

The current guideline value of Thamarai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Thamarai Nagar has changed

The guideline value for Thamarai Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 120 per sq.ft. This value increased significantly to Rs 222 per sq.ft in 2003, marking an increase of 85%. The subsequent revision in 2007 saw the guideline value rise to Rs 800 per sq.ft, reflecting a substantial increase of 260%. In 2012, the value was revised to Rs 2,000 per sq.ft, which was a 150% increase from the previous figure.

From 2012 to 2017, the guideline value decreased to Rs 1,340 per sq.ft, a decline of 33%. However, the value rebounded to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Thamarai Nagar is below this median.

• Telephone Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 9th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 8th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thamarai Nagar?

The Thamarai Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the stamp duty and registration fees payable. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during the registration process.

Frequently asked questions

What is the current guideline value of Thamarai Nagar?

The current guideline value of Thamarai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 in 2002 to Rs 2,200 in 2024, reflecting an overall increase of 1733% over the years.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft, with Thamarai Nagar's value being below this median.

What are the stamp duty rates for properties in Thamarai Nagar?

The stamp duty for properties in Thamarai Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.