Guideline Value for Thangal Street

Thangal Street guideline value

The current guideline value of Thangal Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Thangal Street has changed

Looking at the historical revisions, the guideline value for Thangal Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,005 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value increased by +10%.

It is important to note that there are no recorded figures for Thangal Street in the revisions of 2002, 2003, and 2007.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value for Thangal Street.

• Thangal karai St: Rs 1,650 per sq.ft (2024)
• Thanigai Nagar ( Alex St ): Rs 1,100 per sq.ft (2024)
• Thayakar Avenue: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 2nd Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Thayakar Avenue 4th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thangal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500 and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangal Street?

The Sub Registrar Office that covers Thangal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property, which aids in negotiations and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Thangal Street?

The current guideline value of Thangal Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of +10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Thangal Street?

Thangal Street is classified as Residential Class I Type - III, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Thangal Street?

The Sub Registrar Office for Thangal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.