Guideline Value for Thangaraj Nagar

Thangaraj Nagar guideline value

The current guideline value of Thangaraj Nagar, located in Peerklankaranai village, is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Thangaraj Nagar has changed

The guideline value for Thangaraj Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which was later adjusted to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, and Thangaraj Nagar's 2024 figure is above this median.

• Thangaraj Nagar 1st Cross st: Rs 1,650 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 to estimate your costs.

Which Sub Registrar Office covers Thangaraj Nagar?

The Sub Registrar Office for Thangaraj Nagar 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

When buying or selling property in Peerklankaranai, the guideline value plays a crucial role in determining the registration fees and stamp duties. This value serves as a benchmark for calculating these costs, ensuring that the property is registered at a value recognized by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value not only affects the financial aspects of the transaction but also ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thangaraj Nagar?

The current guideline value of Thangaraj Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Thangaraj Nagar?

Thangaraj Nagar is classified as Residential Special Type - I, according to the local land classification norms.

Where can I find the Sub Registrar Office for Thangaraj Nagar?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thangaraj Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.