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Guideline Value

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Guideline Value for THANTHAI PERIYAR NAGAR - Palanivel Salai

₹2200/sq.ft.

The guideline value for Thanthai Periyar Nagar - Palanivel Salai in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹111 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹100 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thanthai Periyar Nagar - Palanivel Salai

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THANTHAI PERIYAR NAGAR - Palanivel Salai guideline value

The current guideline value for THANTHAI PERIYAR NAGAR - Palanivel Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Nerkundram village and falls under the Virugambakkam SRO. The land classification is Residential Class IV Type - I.

How the guideline value of THANTHAI PERIYAR NAGAR - Palanivel Salai has changed

The guideline value for THANTHAI PERIYAR NAGAR - Palanivel Salai has seen several revisions over the years. Starting from Rs 100 per sq.ft in 2002, it increased to Rs 111 per sq.ft in 2003, marking an 11% rise. In 2007, the value surged to Rs 300 per sq.ft, reflecting a significant increase of 170%. The value remained at Rs 2,000 per sq.ft in 2012, but this was a decrease of 33% from the previous revision. By 2017, the guideline value rose to Rs 1,340 per sq.ft, which was a 49% increase from 2012. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 increased it to Rs 2,200 per sq.ft, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2,100%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, which is the same as the current value for THANTHAI PERIYAR NAGAR - Palanivel Salai.

Stamp duty and registration fee for property in THANTHAI PERIYAR NAGAR - Palanivel Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers THANTHAI PERIYAR NAGAR - Palanivel Salai?

The Sub Registrar Office that covers THANTHAI PERIYAR NAGAR - Palanivel Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, ensuring that all transactions comply with the legal requirements.

During the registration process, the guideline value is compared against the sale price. The higher of the two values is used for calculating the applicable duties and fees. This practice helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for THANTHAI PERIYAR NAGAR - Palanivel Salai?

The current guideline value for THANTHAI PERIYAR NAGAR - Palanivel Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with several revisions in between. The most significant increase occurred from 2007 to 2012, where it rose by 567%.

What is the land classification for THANTHAI PERIYAR NAGAR - Palanivel Salai?

The land classification for THANTHAI PERIYAR NAGAR - Palanivel Salai is Residential Class IV Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for THANTHAI PERIYAR NAGAR - Palanivel Salai?

The Virugambakkam Sub Registrar Office handles property registrations for THANTHAI PERIYAR NAGAR - Palanivel Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.