Guideline Value for Thandavamurthy Nagar 2nd Street

Thandavamurthy Nagar 2nd Street guideline value

The current guideline value for Thandavamurthy Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thandavamurthy Nagar 2nd Street has changed

The guideline value for Thandavamurthy Nagar 2nd Street has seen significant changes over the years. In the 2002 revision, the value was Rs 515 per sq.ft. This increased to Rs 560 per sq.ft in 2003, marking a 9% rise. The value continued to rise to Rs 750 per sq.ft in 2007, showing a 34% increase. By 2012, the value reached Rs 4,000 per sq.ft, reflecting a substantial 433% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33% from 2012.

From 2017 to 2023, the guideline value increased significantly to Rs 4,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 754%. There are no figures available for the revisions in the years not listed.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Thandavamurthy Nagar 2nd Street's value above this median.

• Thandavamurthy Nagar - Narayanasamy Street: Rs 4,400 per sq.ft (2024)
• Thandavamurthy Nagar - Visalakshi Street: Rs 4,400 per sq.ft (2024)
• Tahore Street: Rs 3,850 per sq.ft (2024)
• Suresh Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Suresh Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Suresh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thandavamurthy Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thandavamurthy Nagar 2nd Street?

The Sub Registrar Office that covers Thandavamurthy Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam. It serves as the basis for calculating the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers must be aware that the guideline value can impact the overall cost of the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to determine the applicable fees. This ensures that the state receives the appropriate revenue from property transactions, reflecting the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Thandavamurthy Nagar 2nd Street?

The current guideline value of Thandavamurthy Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 515 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 754% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Thandavamurthy Nagar 2nd Street?

The Virugambakkam Sub Registrar Office handles property registrations for Thandavamurthy Nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, with Thandavamurthy Nagar 2nd Street's value being above this median at Rs 4,400 per sq.ft.