Guideline Value for Thangal Street

Thangal Street guideline value

The current guideline value of Thangal Street in Virugambakkam village, under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Thangal Street has changed

The guideline value for Thangal Street has undergone several revisions over the years. In 2002, the guideline value was Rs 353 per sq.ft, which increased to Rs 391 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,100 per sq.ft in 2007, marking an increase of 181%. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2012, which was an increase of 173%. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and now stands at Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in years not listed. The overall change from 2002 to 2024 shows an increase of 835% in the guideline value for Thangal Street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means Thangal Street's 2024 figure is below that median.

• Thangal Ulvai Lane: Rs 2,750 per sq.ft (2024)
• Thangal Ulvai Street: Rs 2,750 per sq.ft (2024)
• Thangal Erikkarai Street: Rs 2,750 per sq.ft (2024)
• Thangal 9th Street: Rs 3,300 per sq.ft (2024)
• Thangal 8th Street: Rs 3,300 per sq.ft (2024)
• Thangal 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Thangal Street?

The Sub Registrar Office that covers Thangal 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Virugambakkam. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared to the sale price of the property. The higher amount between the two is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thangal Street?

The current guideline value of Thangal Street is Rs 3,300 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 353 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 835% over the years.

What is the land classification for Thangal Street?

Thangal Street is classified under Residential Class IV Type - I land classification.

What are the stamp duty and registration fees for property in Thangal Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Thangal Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.