Guideline Value for THIRUMANGALAM ROAD "POST OFFICE STREET"

Thirumangalam Road "post Office Street" guideline value

The current guideline value for Thirumangalam Road "post Office Street" is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Thirumangalam Road "post Office Street" has changed

The guideline value for Thirumangalam Road "post Office Street" has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 317%. However, from 2012 to 2017, the value decreased to Rs 5,025 per sq.ft, a drop of 33%. The value then rose to Rs 7,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 8,200 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 356%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,900 per sq.ft, placing Thirumangalam Road "post Office Street" above this median.

• Thirumangalam Road "navalar Nagar": Rs 8,200 per sq.ft (2024)
• Thirumangalam Road 3rd Lane: Rs 6,600 per sq.ft (2024)
• THIRUMANGALAM ROAD 2nd STREET: Rs 8,200 per sq.ft (2024)
• Thirumangalam Road 2nd Lane: Rs 6,600 per sq.ft (2024)
• THIRUMANGALAM ROAD 1st STREET: Rs 8,200 per sq.ft (2024)
• Thirumangalam Road 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumangalam Road "post Office Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees to Rs 7,38,000. 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 more details on your specific transaction.

Which Sub Registrar Office covers Thirumangalam Road "post Office Street"?

The Sub Registrar Office that covers Thirumangalam Road "post Office Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumangalam Road "post Office Street"?

The current guideline value of Thirumangalam Road "post Office Street" is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,800 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, which is an overall increase of 356%.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Thirumangalam Road "post Office Street" is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Villivakkam Sub Registrar Office?

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 median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, which means that Thirumangalam Road "post Office Street" is above this median value.