Guideline Value for THANGAM AVENUE

Thangam Avenue guideline value

The current guideline value of Thangam Avenue in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Thangam Avenue has changed

The guideline value for Thangam Avenue has seen several revisions over the years. The earliest recorded value was Rs 550 per sq.ft in 2007, which increased significantly to Rs 1,200 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Between the 2007 and 2012 revisions, there was a notable increase of 118%. Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by 140%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Thangam Avenue's 2024 value is below this median.

• Thangam Nagar: Rs 1,650 per sq.ft (2024)
• Thanigai Nagar: Rs 1,320 per sq.ft (2024)
• Thai Nagar -Mayilai Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Thaai Nagar: Rs 1,320 per sq.ft (2024)
• Thanks Nagar: Rs 1,320 per sq.ft (2024)
• Thanthai Periyar Avvaiyar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thangam Avenue?

The Sub Registrar Office covering Thangam Avenue is 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 Pallikaranai

The guideline value is a crucial factor in the property registration process in Pallikaranai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. The registration process ensures that the property is legally recognized and that all dues are settled appropriately.

Frequently asked questions

What is the current guideline value of Thangam Avenue?

The current guideline value of Thangam Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 140%.

What are the stamp duty and registration fees for properties in Thangam Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,18,800.

Which office handles property registrations for Thangam Avenue?

The Chennai South Joint I Sub Registrar Office handles property registrations for Thangam Avenue, located in Fanepet Nandanam, Chennai.

What is the classification of land in Thangam Avenue?

The land classification for Thangam Avenue is Residential Class IV Type - II.