Guideline Value for THIRUVENGADAM NAGAR

Thiruvengadam Nagar guideline value

The current guideline value of Thiruvengadam Nagar, located in Koladi village, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Thiruvengadam Nagar has changed

The guideline value for Thiruvengadam Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the value rose sharply by 49% to reach Rs 1,500 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 1,650 per sq.ft, a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Thiruvengadam Nagar's 2024 figure above this median.

• Thiruvengadam Nagar Extention: Rs 1,650 per sq.ft (2024)
• Thulukanathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,100 per sq.ft (2024)
• Thirumalai Balaji Nagar: Rs 660 per sq.ft (2024)
• Valli Kollai Medu: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengadam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvengadam Nagar?

Thiruvengadam Nagar is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Thiruvengadam Nagar?

The current guideline value of Thiruvengadam Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 725% over the years.

What is the land classification of Thiruvengadam Nagar?

Thiruvengadam Nagar is classified as Residential Class I Type - II.

What is the registration office for Thiruvengadam Nagar?

The registration office for Thiruvengadam Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Thiruvengadam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.