Guideline Value for Thangal Ulvai Lane

Thangal Ulvai Lane guideline value

The current guideline value of Thangal Ulvai Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, which falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Thangal Ulvai Lane has changed

Over the years, the guideline value for Thangal Ulvai Lane has seen significant changes. The earliest recorded figure is from 2002, when the guideline value was Rs 259 per sq.ft. This figure increased to Rs 287 per sq.ft in 2003, marking an 11% rise. The value saw a substantial jump to Rs 500 per sq.ft in 2007, which is a 74% increase. Following this, the value surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year. There are no figures available for the revisions from years not listed in the register.

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, with a median value of Rs 4,400 per sq.ft. Thangal Ulvai Lane's 2024 figure is below this median.

• Thangal Ulvai Street: Rs 2,750 per sq.ft (2024)
• Thangal Street: Rs 3,300 per sq.ft (2024)
• Thangal Erikkarai Street: Rs 2,750 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Thangal Ulvai Lane

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, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangal Ulvai Lane?

The Sub Registrar Office that covers Thangal Ulvai Lane 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 Virugambakkam

The guideline value is a crucial factor during property registration in Virugambakkam. It serves as a benchmark for determining the value of the property, which is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value helps in assessing the official value of the transaction. This ensures that the correct amount of stamp duty is paid, which is based on the higher of the guideline value or the sale price. Understanding the guideline value is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Thangal Ulvai Lane?

The current guideline value of Thangal Ulvai Lane 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 significantly from Rs 259 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 962% over the years.

What is the land classification for Thangal Ulvai Lane?

The land classification for Thangal Ulvai Lane is Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Thangal Ulvai Lane?

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

How is stamp duty calculated for properties in Thangal Ulvai Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.