Guideline Value for THENDRAL NAGAR

Thendral Nagar guideline value

The current guideline value of Thendral Nagar, located in Karapakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Thendral Nagar has changed

The guideline value for Thendral Nagar has seen significant changes over the years. The 2007 revision recorded a value of Rs 300 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The subsequent revisions saw a steady increase, with the 2017 figure rising to Rs 2,000 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the guideline value register.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Thendral Nagar's 2024 figure above this median.

• THENDRAL NAGAR 1st STREET: Rs 2,200 per sq.ft (2024)
• THENDRAL NAGAR to K.C.G.COLLEGE LINK ROAD: Rs 2,200 per sq.ft (2024)
• Teachers Colony: Rs 1,100 per sq.ft (2024)
• Thulukanam Garden: Rs 1,100 per sq.ft (2024)
• Tvs Emerald Hamlet: Rs 10,700 per sq.ft (2024)
• Vai Kund-Sundaram Estate: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thendral Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be 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 essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thendral Nagar?

The Sub Registrar Office that covers Thendral Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Karapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is in accordance with the prevailing market conditions as recognized by the government. This value is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the stamp duty is charged on the sale price; otherwise, it is charged on the guideline value. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thendral Nagar?

The current guideline value of Thendral Nagar 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 increased from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 633% over the years.

What is the land classification for Thendral Nagar?

The land classification for Thendral Nagar is Residential Class II Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Thendral Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.