Guideline Value for Thangal 3rd Street

Thangal 3rd Street guideline value

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

How the guideline value of Thangal 3rd Street has changed

The guideline value for Thangal 3rd Street has seen significant changes over the years. In the 2002 revision, the value was Rs 259 per sq.ft, which increased to Rs 287 per sq.ft in 2003. The value then rose by 11% to Rs 750 per sq.ft in 2007, followed by a substantial increase of 300% to Rs 3,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased by 33% to Rs 2,010 per sq.ft. The 2023 revision saw an increase of 49% to Rs 3,000 per sq.ft, and the most recent 2024 revision established the current value at Rs 3,300 per sq.ft, reflecting a 10% increase.

There are no figures available for the years between 2002 and 2003, 2007 and 2012, and 2012 and 2017 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 1174%.

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 value for these streets is Rs 4,400 per sq.ft, making the guideline value of Thangal 3rd Street below this median.

• Thangal 2nd Street: Rs 3,300 per sq.ft (2024)
• Thangal 4th Street: Rs 3,300 per sq.ft (2024)
• Thangal 5th Street: Rs 3,300 per sq.ft (2024)
• Thangal 1st Street: Rs 3,300 per sq.ft (2024)
• Thangal 6th Street: Rs 3,300 per sq.ft (2024)
• Thangal 10th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal 3rd 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 fees together 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangal 3rd Street?

The Sub Registrar Office that covers Thangal 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring transparency and fairness in the real estate market.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thangal 3rd Street?

The current guideline value of Thangal 3rd 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 increased from Rs 259 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1174% over the years.

What is the land classification for Thangal 3rd Street?

The land classification for Thangal 3rd Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for Thangal 3rd Street located?

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

How are stamp duty and registration fees calculated for properties in Thangal 3rd Street?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft property, the total guideline value would be Rs 33,00,000, leading to total fees of Rs 2,97,000.