Guideline Value for Thangal Ulvai Street

Thangal Ulvai Street guideline value

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

How the guideline value of Thangal Ulvai Street has changed

The guideline value for Thangal Ulvai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 259 per sq.ft, which increased to Rs 287 per sq.ft in 2003, marking an 11% rise. By 2007, the value saw a significant jump to Rs 500 per sq.ft, reflecting a 74% increase. The value further escalated to Rs 2,500 per sq.ft in 2012, representing a 400% increase from the previous figure. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value rose to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 962%. There are no figures available for the revisions in years not mentioned 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 Street's 2024 guideline value is below this median.

• Thangal Ulvai Lane: 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 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, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please 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 further calculations.

Which Sub Registrar Office covers Thangal Ulvai Street?

The Sub Registrar Office that covers Thangal Ulvai 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 Virugambakkam

The guideline value plays a crucial role during property transactions in Virugambakkam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. It is essential to be aware of the current guideline value to ensure compliance with legal requirements.

Additionally, the guideline value serves as a reference point for the pricing of properties in the area. Buyers and sellers should consider this value when negotiating sale prices, as it reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Thangal Ulvai Street?

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

What is the land classification for Thangal Ulvai Street?

Thangal Ulvai Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. 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%.