Guideline Value for THANIGAI NAGAR

Thanigai Nagar guideline value

The current guideline value of Thanigai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Thanigai Nagar has changed

The guideline value for Thanigai Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 78 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a change of +28%. In 2007, the value jumped significantly to Rs 400 per sq.ft, which is a change of +300%. The next revision in 2012 saw the value remaining the same at Rs 1,200 per sq.ft. However, in 2023, it again remained unchanged at Rs 1,200 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,320 per sq.ft, reflecting a change of +10% from the previous year.

It is worth noting that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1592%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Thanigai Nagar's 2024 figure below that median.

• Thangam Nagar: Rs 1,650 per sq.ft (2024)
• Thangam Avenue: 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)
• Thanthai Periyar Kamaraj Street: Rs 1,650 per sq.ft (2024)
• Theeran Chinna Malai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thanigai Nagar?

The Sub Registrar Office that covers Thanigai Nagar 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 further information.

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

The guideline value is a crucial factor when registering a property in Pallikaranai. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that transactions are conducted at a fair value as per government standards.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value. This ensures that all transactions are recorded accurately and transparently in the property register.

Frequently asked questions

What is the current guideline value of Thanigai Nagar?

The current guideline value of Thanigai Nagar 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 78 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a significant increase over the years, with various revisions noted in the register.

What is the registration office for Thanigai Nagar?

The registration office for Thanigai Nagar 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400.

What is the land classification for Thanigai Nagar?

The land classification for Thanigai Nagar is Residential Class IV Type - II, indicating its designated use for residential purposes.