Guideline Value for THANGAVEL REDDY STREET

Thangavel Reddy Street guideline value

The current guideline value of Thangavel Reddy Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Thangavel Reddy Street has changed

The guideline value for Thangavel Reddy Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, in the 2017 revision, it dropped to Rs 871 per sq.ft before rising again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the value increased by 767%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, remaining unchanged through to the 2024 revision. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, making Thangavel Reddy Street's 2024 figure above this median.

• Thangadurai Street: Rs 800 per sq.ft (2024)
• Theeran Sivalingam Street: Rs 800 per sq.ft (2024)
• Thilakar Street: Rs 800 per sq.ft (2024)
• Sundaram Street: Rs 1,300 per sq.ft (2024)
• Subramania Siva Street: Rs 800 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangavel Reddy Street?

The Sub Registrar Office covering Thangavel Reddy Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is used as a reference point for determining the stamp duty and registration fees when buying or selling property in Vengathur. It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the fair value of the property. This helps maintain transparency in property transactions and ensures that appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Thangavel Reddy Street?

The current guideline value of Thangavel Reddy Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then to Rs 871 per sq.ft in 2017, and back to Rs 1,300 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Thangavel Reddy Street's current value above this median.

What are the stamp duty and registration fees for property in Thangavel Reddy Street?

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 be Rs 1,17,000.

Which office handles property registrations for Thangavel Reddy Street?

The Manavalanagar Sub Registrar Office handles property registrations for Thangavel Reddy Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.