Guideline Value for THANGAVEL NAGAR

Thangavel Nagar guideline value

The current guideline value of Thangavel Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Thangavel Nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 250 per sq.ft in the 2023 revision, reflecting a 50% increase from the 2017 figure.

The 2024 revision maintained the guideline value at Rs 250 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current value of Thangavel Nagar.

• Thangam Nagar: Rs 250 per sq.ft (2024)
• Sv Nagar, Gangaiamman Nagar: Rs 226 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)
• Sun City Phase 1: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 2,50,000. The stamp duty is calculated at 7%, totaling Rs 17,500, while the registration fee is 2%, amounting to Rs 5,000. Together, the total cost for these fees is Rs 22,500. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangavel Nagar?

The Sub Registrar Office that covers Thangavel Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor in the registration process of property transactions in Kizhnallathur & Melnallathur. It determines the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value affects the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thangavel Nagar?

The current guideline value of Thangavel Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining it at Rs 250 per sq.ft. The value was Rs 250 in 2012, decreased to Rs 167 in 2017, and then increased back to Rs 250 in 2023.

What is the land classification for Thangavel Nagar?

Thangavel Nagar is classified as Residential Class I Type - II, indicating its designation for residential use.

What are the registration fees for property in Thangavel Nagar?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500, and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Thangavel Nagar located?

The Sub Registrar Office for Thangavel Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.