Guideline Value for Thangal 1st Street

Thangal 1st Street guideline value

The current guideline value of Thangal 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village under the Redhills SRO, classified as Commercial Class I Type - I.

How the guideline value of Thangal 1st Street has changed

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a 43% rise. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a drop of 33%. The 2023 revision maintained the guideline value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 43%. The 2023 to 2024 revision saw no change, with both years reflecting a guideline value of Rs 1,000 per sq.ft.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the 2024 figure for Thangal 1st Street.

• Thalaiyari Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony 1st Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony 2nd Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony 3rd Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony Eswaran Koil Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony Main Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 precise calculations.

Which Sub Registrar Office covers Thangal 1st Street?

The Sub Registrar Office that covers Thangal 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Thangal 1st Street?

The current guideline value of Thangal 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 700 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and returning to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification of Thangal 1st Street?

Thangal 1st Street is classified as Commercial Class I Type - I under the Redhills SRO.

What are the stamp duty and registration fees for property in Thangal 1st Street?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which Sub Registrar Office covers Thangal 1st Street?

The Redhills Sub Registrar Office covers Thangal 1st Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.