Guideline Value for Thangal Karai Street

Thangal Karai Street guideline value

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

How the guideline value of Thangal Karai Street has changed

The guideline value of Thangal Karai Street has seen several revisions over the years. In 2002, the guideline value was Rs 372 per sq.ft. This increased to Rs 407 per sq.ft in 2003, marking a rise of 9%. The value saw a significant jump in 2007, reaching Rs 850 per sq.ft, which was an increase of 109%. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting a 253% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 787%. There are no figures available for revisions in years not mentioned in the provided data.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values 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 Karai Street's 2024 figure below this median.

• Telephone Colony Extension: Rs 4,400 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 1st Street: Rs 5,500 per sq.ft (2024)
• S.S.R.Pankajam Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal Karai 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangal Karai Street?

The Sub Registrar Office that covers Thangal Karai 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 Saligramam

The guideline value is a crucial factor when buying or selling property in Saligramam, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

During the registration process, the guideline value serves as a benchmark for the minimum value of the property, which is used to calculate the necessary fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Thangal Karai Street?

The current guideline value of Thangal Karai 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 from Rs 372 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 787% over the years.

What is the land classification for Thangal Karai Street?

The land classification for Thangal Karai Street is Residential Class III Type - I.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees amount to Rs 2,97,000.

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.