Guideline Value for THIRUMANGALAM ROAD

Thirumangalam Road guideline value

The current guideline value of Thirumangalam Road is Rs 8,200 per sq.ft, effective from 1 July 2024. This road is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thirumangalam Road has changed

The guideline value for Thirumangalam Road has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 317%. However, the value dropped to Rs 5,025 per sq.ft in 2017, representing a decrease of 33%. The 2023 revision brought the value back up to Rs 7,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 8,200 per sq.ft, reflecting a rise of 9% from the previous year.

Notably, there are no figures available for the revisions in 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 value across these streets is Rs 4,900 per sq.ft, positioning Thirumangalam Road's current value above the median.

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

Stamp duty and registration fee for property in Thirumangalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total cost for these 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 further calculations.

Which Sub Registrar Office covers Thirumangalam Road?

The Sub Registrar Office that covers Thirumangalam Road 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 more information.

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

The guideline value plays a crucial role during property registration in Villivakkam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Thirumangalam Road?

The current guideline value of Thirumangalam Road 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 from Rs 1,800 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, reflecting a total increase of 356% over the years.

What are the stamp duty and registration fees for properties on Thirumangalam Road?

For a 1,000 sq.ft property, the total guideline value is Rs 82,00,000, leading to a stamp duty of Rs 5,74,000 and a registration fee of Rs 1,64,000, totaling Rs 7,38,000.

Which Sub Registrar Office covers Thirumangalam Road?

The Villivakkam Sub Registrar Office covers Thirumangalam Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Thirumangalam Road?

Thirumangalam Road is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.