Guideline Value for Thangal 5th Street

Thangal 5th Street guideline value

The current guideline value of Thangal 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thangal 5th Street has changed

The guideline value for Thangal 5th Street has seen several revisions over the years. In 2002, the value was Rs 259 per sq.ft, which increased to Rs 287 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 750 per sq.ft in 2007, which was a 161% jump. Following this, the value surged to Rs 3,000 per sq.ft in 2012, representing a 300% increase. However, there was a decrease in the value to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, an increase of 10%.

There are no figures available for the guideline value of Thangal 5th Street for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 1,174%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Thangal 5th Street is below this median.

• Thangal 4th Street: Rs 3,300 per sq.ft (2024)
• Thangal 6th Street: Rs 3,300 per sq.ft (2024)
• Thangal 3rd Street: Rs 3,300 per sq.ft (2024)
• Thangal 7th Street: Rs 3,300 per sq.ft (2024)
• Thangal 2nd Street: Rs 3,300 per sq.ft (2024)
• Thangal 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal 5th 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangal 5th Street?

The Sub Registrar Office that covers Thangal 5th 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 additional 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 when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Thangal 5th Street?

The current guideline value of Thangal 5th 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 1,174% over this period.

What is the land classification for Thangal 5th Street?

The land classification for Thangal 5th Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Thangal 5th Street?

The Sub Registrar Office for Thangal 5th Street 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 5th Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,97,000 in fees.