Guideline Value for Thangappan Avenue

Thangappan Avenue guideline value

The current guideline value of Thangappan Avenue is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Thangappan Avenue has changed

The guideline value for Thangappan Avenue has seen several revisions over the years. In 2007, the value was set at Rs 175 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 469 per sq.ft in 2017, a drop of 33%. The value remained at Rs 700 per sq.ft in 2023, and there was no change from 2023 to 2024, keeping it at Rs 700 per sq.ft.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 reflects a substantial increase of 300% in the guideline value.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value across these streets is Rs 700 per sq.ft, which aligns with the current guideline value of Thangappan Avenue.

• Thamizh Selvi Nagar: Rs 700 per sq.ft (2024)
• Swarnamangala Nagar: Rs 700 per sq.ft (2024)
• Thiru.Gopal Nagar: Rs 700 per sq.ft (2024)
• Thiru. Gopal Nagar Phase II: Rs 700 per sq.ft (2024)
• Suseela Nagar: Rs 700 per sq.ft (2024)
• Thirukumaran Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Thangappan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangappan Avenue?

The Sub Registrar Office that covers Thangappan Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process for property transactions in Kayirambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Thangappan Avenue?

The current guideline value of Thangappan Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with significant changes observed between 2007 and 2024, where it increased by 300% from Rs 175 per sq.ft to Rs 700 per sq.ft.

What are the other streets in Kayirambedu with the same guideline value?

Several other streets in Kayirambedu also have a guideline value of Rs 700 per sq.ft, including Thamizh Selvi Nagar, Swarnamangala Nagar, Thiru.Gopal Nagar, Thiru. Gopal Nagar Phase II, and Suseela Nagar.

Where can I find the Sub Registrar Office for Thangappan Avenue?

The Sub Registrar Office for Thangappan Avenue is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.

How is the stamp duty calculated for properties in Thangappan Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.