Guideline Value for Thangal 4th Street

Thangal 4th Street guideline value

The current guideline value of Thangal 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Thangal 4th Street has changed

Over the years, the guideline value of Thangal 4th Street has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 259 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking an 11% rise. The value then saw a substantial increase to Rs 750 per sq.ft in 2007, reflecting a 161% change. Following that, the value surged to Rs 3,000 per sq.ft in 2012, which was a remarkable 300% increase from the previous revision. However, there was a decline to Rs 2,010 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value rose again to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1174%. There are no figures available for the years not mentioned in this register.

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 for these streets is Rs 4,400 per sq.ft, which means that Thangal 4th Street's 2024 figure is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangal 4th Street?

The Sub Registrar Office that covers Thangal 4th 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should consider the guideline value when negotiating the sale price to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Thangal 4th Street?

The current guideline value of Thangal 4th 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 259 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1174% over the years.

What is the median guideline value for other streets in Virugambakkam?

The median guideline value for other streets in Virugambakkam is Rs 4,400 per sq.ft, which is higher than the current value of Thangal 4th Street.

What are the stamp duty and registration fees for a property in Thangal 4th 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 4th Street located?

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