Guideline Value for Thangavel Avenue

Thangavel Avenue guideline value

The current guideline value of Thangavel Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Thangavel Avenue has changed

The guideline value for Thangavel Avenue has undergone several revisions over the years. Starting from Rs 232 per sq.ft in 2002, it increased to Rs 260 per sq.ft in 2003. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and most recently, it has reached Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1107%. Notably, there are no figures available for the revisions in the years not mentioned for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. Thangavel Avenue's 2024 figure aligns with this median.

• Thangavel Street Extension: Rs 2,800 per sq.ft (2024)
• Thamos Nagar Main: Rs 3,900 per sq.ft (2024)
• Thamos Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Thilagar Street: Rs 2,200 per sq.ft (2024)
• Subramaniya Bharathi Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thangavel Avenue?

The Sub Registrar Office that covers Thangavel Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of ownership. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Thangavel Avenue?

The current guideline value of Thangavel Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 232 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 1107% over the years.

What is the land classification for Thangavel Avenue?

Thangavel Avenue is classified as Residential Class II Type - I under the Alandur SRO.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Thangavel Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,800 per sq.ft would have a total guideline value of Rs 28,00,000, leading to a stamp duty of Rs 1,96,000.