Guideline Value for Thamas Nagar

Thamas Nagar guideline value

The current guideline value of Thamas Nagar, located in Venkatapuram village under the Adayar SRO, is Rs 2,800 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class V Type - III land classification.

How the guideline value of Thamas Nagar has changed

The guideline value for Thamas Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a drop of 33%. However, the value rose significantly to Rs 2,500 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 12%, with the current value being below the median of Rs 5,500 per sq.ft for other streets in Venkatapuram.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO, with guideline values ranging from Rs 2,800 to Rs 15,400 per sq.ft. Thamas Nagar's 2024 guideline value of Rs 2,800 per sq.ft is below the median value of Rs 5,500 per sq.ft. Below are other streets in Venkatapuram:

• Taluk Office Road: Rs 10,500 per sq.ft (2024)
• Thulasinga Chetty Street: Rs 2,800 per sq.ft (2024)
• Sri Nagar Colony West Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony Temple Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South mada veedhi (Old Central Avenue road): Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South Avenue: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thamas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Thamas Nagar?

Thamas Nagar falls under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the transaction is transparent and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thamas Nagar?

The current guideline value of Thamas Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Thamas Nagar?

Thamas Nagar is classified as Residential Class V Type - III.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Thamas Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.