Guideline Value for Thangal 9th Street

Thangal 9th Street guideline value

The current guideline value of Thangal 9th 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 9th Street has changed

The guideline value for Thangal 9th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 259 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking an increase of 11%. The value then saw a significant rise to Rs 750 per sq.ft in 2007, which was a 161% increase. In 2012, the value was Rs 3,000 per sq.ft, reflecting a 300% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in years not specified in the register for this street. The overall change from 2002 to 2024 shows an increase of 1,174% in the guideline value.

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, placing Thangal 9th Street's 2024 figure below this median.

• Thangal 8th Street: Rs 3,300 per sq.ft (2024)
• Thangal 7th Street: Rs 3,300 per sq.ft (2024)
• Thangal Erikkarai Street: Rs 2,750 per sq.ft (2024)
• Thangal 6th Street: Rs 3,300 per sq.ft (2024)
• Thangal 5th Street: Rs 3,300 per sq.ft (2024)
• Thangal 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal 9th 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 cost for these fees 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 9th Street?

The Sub Registrar Office that covers Thangal 9th 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 Virugambakkam

The guideline value is a crucial factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the property registration process.

When you buy or sell property, the guideline value is assessed to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Thangal 9th Street?

The current guideline value of Thangal 9th 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 median guideline value for streets in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft, with Thangal 9th Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Thangal 9th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the guideline value of Rs 33,00,000.

Which office handles property registrations for Thangal 9th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Thangal 9th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.