Guideline Value for Thangaraj Street / Sholavaram Nagar

Thangaraj Street / Sholavaram Nagar guideline value

The current guideline value of Thangaraj Street / Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Thangaraj Street / Sholavaram Nagar has changed

The guideline value for Thangaraj Street / Sholavaram Nagar has seen significant changes over the years. Starting from Rs 189 per sq.ft in 2002, it increased to Rs 214 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 360 per sq.ft in 2007, reflecting a 68% increase. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, which is a substantial 235% increase from 2007. However, there is no figure available for the year 2012.

In the subsequent revisions, the guideline value continued to rise, reaching Rs 1,800 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 948%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Thangaraj Street / Sholavaram Nagar's 2024 figure below this median.

• Thangaran Street, Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thangavasanammal Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Thangavel Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Thangayya Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Thanthai Periyar Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Thandayar Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Thangaraj Street / Sholavaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangaraj Street / Sholavaram Nagar?

The Sub Registrar Office that covers Thangaraj Street / Sholavaram Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as it reflects the minimum value for which properties in the area can be registered. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Thangaraj Street / Sholavaram Nagar?

The current guideline value of Thangaraj Street / Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 189 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 948% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Thangaraj Street / Sholavaram Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in Thangaraj Street / Sholavaram Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that properties are registered at a fair and transparent value.