Guideline Value for THANGAVALU STREET

Thangavalu Street guideline value

The current guideline value of Thangavalu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Thangavalu Street has changed

The guideline value for Thangavalu Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 858 per sq.ft. This increased to Rs 953 per sq.ft in 2003, marking an 11% rise. The value then surged by 215% to reach Rs 3,000 per sq.ft in 2007. Following this, there was a 100% increase to Rs 6,000 per sq.ft in 2012. However, the value decreased by 33% to Rs 4,020 per sq.ft in 2017. The guideline value rose to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 669%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, placing Thangavalu Street's current value below this median.

• Thanikachalam Road: Rs 17,600 per sq.ft (2024)
• Thanjavur Road: Rs 11,000 per sq.ft (2024)
• Thiagaraya Grammani Street: Rs 8,800 per sq.ft (2024)
• Thilak Street: Rs 11,000 per sq.ft (2024)
• Thilak Street Extension: Rs 17,600 per sq.ft (2024)
• Thirumalai Pillai 1st Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 information.

Which Sub Registrar Office covers Thangavalu Street?

The Sub Registrar Office that covers Thangavalu Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thangavalu Street?

The current guideline value of Thangavalu Street is Rs 6,600 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 858 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 669% over this period.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, with Thangavalu Street's current value below this median.

What are the stamp duty and registration fees for a property in Thangavalu Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Thangavalu Street?

The Thangavalu Street is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.