Guideline Value for Thangal Street

Thangal Street guideline value

The current guideline value of Thangal Street in Malayambakkam village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class I Type - II.

How the guideline value of Thangal Street has changed

The guideline value for Thangal Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and the latest revision for 2024 has set it at Rs 880 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 252%. The register has no figures for Thangal Street for the years 2002 and 2003.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, placing Thangal Street's 2024 figure below this median.

• Suraj Kudiyiruppu: Rs 880 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 935 per sq.ft (2024)
• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 935 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 880 per sq.ft, the total guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. 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 detailed calculations.

Which Sub Registrar Office covers Thangal Street?

The Sub Registrar Office that covers Thangal Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures that the government receives the appropriate taxes based on the established guideline values.

Frequently asked questions

What is the current guideline value of Thangal Street?

The current guideline value of Thangal Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over this period.

What is the median guideline value in Malayambakkam?

The median guideline value in Malayambakkam is Rs 935 per sq.ft for the year 2024, which is above the current value of Thangal Street.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 61,600 and the registration fee is Rs 17,600, leading to a total of Rs 79,200 for these fees.

Which office handles property registrations for Thangal Street?

The Kunrathur Sub Registrar Office handles property registrations for Thangal Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.