Guideline Value for THAVAN NAGAR

Thavan Nagar guideline value

The current guideline value of Thavan Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Thavan Nagar has changed

The guideline value for Thavan Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show a guideline value of Rs 750 per sq.ft from the 2023 revision, which increased to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11%.

Prior to the 2023 revision, the register does not provide any figures for this street. The current value of Rs 830 per sq.ft aligns with the median guideline value for Padappai, which also stands at Rs 830 per sq.ft for the 2024 revision.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is the same as the guideline value for Thavan Nagar. Below are other streets in Padappai with their respective 2024 guideline values:

• Thanthoniamman Koil Street: Rs 830 per sq.ft (2024)
• Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)
• Thiru.Subramani Nagar: Rs 830 per sq.ft (2024)
• Sundar Nagar: Rs 830 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 830 per sq.ft (2024)
• Sumathi Nagar S.No.320/4, 4a(Part): Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Thavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600. Together, these fees would total Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thavan Nagar?

The Thavan Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thavan Nagar?

The current guideline value of Thavan Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 750 per sq.ft to Rs 830 per sq.ft, which is an increase of 11%.

What is the land classification for Thavan Nagar?

Thavan Nagar is classified as Residential Class III Type - I according to the land classification standards.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Thavan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 8,30,000 would incur a stamp duty of Rs 58,100 at 7%.