Guideline Value for Thangal Erikkarai Street

Thangal Erikkarai Street guideline value

The current guideline value of Thangal Erikkarai Street is Rs 2,750 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 - II.

How the guideline value of Thangal Erikkarai Street has changed

The guideline value for Thangal Erikkarai Street has seen several revisions over the years. In the 2002 revision, the value was Rs 351 per sq.ft, which increased to Rs 389 per sq.ft in 2003. Following this, the value rose significantly to Rs 750 per sq.ft in 2007, and further increased to Rs 2,500 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft. The 2023 revision saw a rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 683%. Notably, there are no figures available for the years not mentioned in the register for this street.

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 value for these streets is Rs 4,400 per sq.ft, placing Thangal Erikkarai Street's 2024 figure below that median.

• Thangal 9th Street: Rs 3,300 per sq.ft (2024)
• Thangal 8th Street: Rs 3,300 per sq.ft (2024)
• Thangal 7th Street: Rs 3,300 per sq.ft (2024)
• Thangal Street: Rs 3,300 per sq.ft (2024)
• Thangal 6th Street: Rs 3,300 per sq.ft (2024)
• Thangal 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal Erikkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fees would be Rs 2,47,500. 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 information.

Which Sub Registrar Office covers Thangal Erikkarai Street?

The Sub Registrar Office that covers Thangal Erikkarai 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 plays a crucial role in the registration process when buying or selling property in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements.

Additionally, the guideline value serves as a reference point for property transactions, helping to establish a baseline for pricing. It is essential for both parties involved in the transaction to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thangal Erikkarai Street?

The current guideline value of Thangal Erikkarai Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 351 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 683% over the years.

What is the median guideline value in Virugambakkam?

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

What are the stamp duty and registration fees for properties in Thangal Erikkarai Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Thangal Erikkarai Street located?

The Sub Registrar Office for Thangal Erikkarai Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.