Guideline Value for Thangal 10th Street

Thangal 10th Street guideline value

The current guideline value of Thangal 10th 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 is classified as Residential Class IV Type - I.

How the guideline value of Thangal 10th Street has changed

The guideline value for Thangal 10th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 259 per sq.ft. This increased to Rs 287 per sq.ft in 2003, marking an 11% rise. The value then saw significant growth, reaching Rs 750 per sq.ft in 2007, which was a 161% increase. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a 33% decline. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1174%. There are no figures available for the revisions in years other than those listed.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, indicating that Thangal 10th Street's 2024 figure is below this 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)

Stamp duty and registration fee for property in Thangal 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that 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 10th Street?

The Sub Registrar Office that covers Thangal 10th 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 an essential factor when registering property transactions in Virugambakkam. It serves as a benchmark for calculating the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as determined by the local authorities. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thangal 10th Street?

The current guideline value of Thangal 10th 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 seen several revisions, increasing from Rs 259 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with notable changes occurring in various years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with Thangal 10th Street's 2024 figure being below this median.

What are the stamp duty and registration fees for Thangal 10th Street?

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

Where is the Sub Registrar Office for Thangal 10th Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Thangal 10th Street.