Guideline Value for Thangaraj Nagar 1st Cross st

Thangaraj Nagar 1st Cross st guideline value

The current guideline value of Thangaraj Nagar 1st Cross st is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thangaraj Nagar 1st Cross st has changed

The guideline value for Thangaraj Nagar 1st Cross st has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The latest revision from 2023 to 2024 shows a 10% increase, bringing the overall change from 2012 to 2024 to a modest 10% increase.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for this area is Rs 1,650 per sq.ft, which is equal to the current value of Thangaraj Nagar 1st Cross st.

• Thangaraj Nagar: Rs 2,200 per sq.ft (2024)
• Thangaraj Nagar 2nd Cross st: Rs 1,650 per sq.ft (2024)
• Thangaraj Nagar 3rd Cross st: Rs 1,650 per sq.ft (2024)
• Thangaraj Nagar Extn: Rs 2,200 per sq.ft (2024)
• Thangaraj Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Thamarai Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Thangaraj Nagar 1st Cross st

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 fees together 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangaraj Nagar 1st Cross st?

The Sub Registrar Office that covers Thangaraj Nagar 1st Cross st is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. It serves as the baseline for calculating stamp duty and registration fees during the registration process. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

When a property is sold, the guideline value is used to determine the applicable fees, and it is essential for both buyers and sellers to understand how this value impacts their financial obligations at the time of registration.

Frequently asked questions

What is the current guideline value of Thangaraj Nagar 1st Cross st?

The current guideline value of Thangaraj Nagar 1st Cross st 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Thangaraj Nagar 1st Cross st?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Thangaraj Nagar 1st Cross st, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and locality. It is used to calculate the applicable stamp duty and registration fees during property transactions.