Guideline Value for THANGAVEL THOTTAM

Thangavel Thottam guideline value

The current guideline value of Thangavel Thottam is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

How the guideline value of Thangavel Thottam has changed

The guideline value for Thangavel Thottam has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 210 per sq.ft. This value experienced significant increases in subsequent revisions, reaching Rs 900 per sq.ft in 2007, followed by a substantial rise to Rs 3,100 per sq.ft in 2012. However, the value then decreased to Rs 2,077 per sq.ft in 2017, before climbing back to Rs 3,100 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft.

Analyzing the changes, the guideline value increased by 329% from 2003 to 2007, followed by a 244% increase from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, but a significant increase of 49% occurred from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 1519%.

Guideline values in Padi

Padi village features 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Thangavel Thottam's 2024 figure below this median.

• Thamarai Kudiyeruppu: Rs 6,600 per sq.ft (2024)
• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)
• Thanthooniamman Koil Street (Kovil Land): Rs 3,400 per sq.ft (2024)
• Syndicate Bank Colony 11th Street: Rs 8,700 per sq.ft (2024)
• Syndicate Bank Colony 10th Street: Rs 8,700 per sq.ft (2024)
• Syndicate Bank Colony: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thangavel Thottam?

The Sub Registrar Office that covers Thangavel Thottam is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

When a property is sold, the registration office will assess the guideline value to calculate the applicable fees. This ensures that both parties are aware of the financial obligations associated with the transaction, making the process transparent and straightforward.

Frequently asked questions

What is the current guideline value of Thangavel Thottam?

The current guideline value of Thangavel Thottam is Rs 3,400 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 210 per sq.ft in 2003 to Rs 3,400 per sq.ft in 2024, reflecting a total increase of 1519% over the years.

What are the stamp duty rates for properties in Thangavel Thottam?

The stamp duty for properties in Thangavel Thottam is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification of Thangavel Thottam?

Thangavel Thottam is classified as Residential Class IV Type - II, indicating its suitability for residential development.