Guideline Value for Thangarajapuram

Thangarajapuram guideline value

The current guideline value of Thangarajapuram is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village, under the Kunrathur Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Thangarajapuram has changed

The guideline value for Thangarajapuram has seen several revisions over the years. Starting from Rs 108 per sq.ft in 2003, it increased significantly to Rs 500 per sq.ft in 2007, followed by a substantial rise to Rs 2,200 per sq.ft in 2012. However, the value dropped to Rs 1,474 per sq.ft in 2017. The subsequent revisions showed a marked increase, with the value rising to Rs 2,200 per sq.ft in 2023 and reaching the current rate of Rs 2,450 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 11% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. The value decreased by 33% from 2012 to 2017, while it surged by 340% from 2007 to 2012 and by 363% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by an impressive 2169%. It is important to note that there is no figure available for the year 2002 for this street.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, which is the same as the current guideline value for Thangarajapuram.

• Taj Nagar: Rs 2,450 per sq.ft (2024)
• Sulochana Nagar: Rs 2,450 per sq.ft (2024)
• Stalin Nagar: Rs 2,000 per sq.ft (2024)
• Sri Sairam Avenue , Sathyanarayanapuram: Rs 2,450 per sq.ft (2024)
• Sri Ranga Nagar: Rs 2,450 per sq.ft (2024)
• Srinivasapuram: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in Thangarajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, together totaling Rs 2,20,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangarajapuram?

The Sub Registrar Office that covers Thangarajapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is used as a benchmark for property transactions in Moulivakkam. When buying or selling property, this value determines the minimum price at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

Additionally, the guideline value influences the stamp duty and registration fees that are payable during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value before proceeding with a property transaction.

Frequently asked questions

What is the current guideline value of Thangarajapuram?

The current guideline value of Thangarajapuram is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 108 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, with various increases and a decrease noted in the intervening years.

What is the land classification of Thangarajapuram?

Thangarajapuram is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Thangarajapuram?

The stamp duty rate in Thangarajapuram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it handles property registrations for Thangarajapuram.