Guideline Value for Thangavel Nagar

Thangavel Nagar guideline value

The current guideline value of Thangavel Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Thangavel Nagar has changed

Over the years, the guideline value for Thangavel Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision recorded a lower value of Rs 469 per sq.ft, showing a decrease of 33% from the 2012 figure. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows no change, with the current guideline value still at Rs 700 per sq.ft.

Guideline values in Atanancheri

In Atanancheri village, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Thangavel Nagar.

• Thirumagal Nagar: Rs 700 per sq.ft (2024)
• Thirumagal Nagar (Extn): Rs 700 per sq.ft (2024)
• Subashree Nagar Extension: Rs 1,000 per sq.ft (2024)
• Subashree Nagar: Rs 670 per sq.ft (2024)
• Thomas Nagar: Rs 500 per sq.ft (2024)
• Sri Vari Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost would be Rs 63,000. 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 Thangavel Nagar?

The Thangavel Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Atanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the sale.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, and it protects both buyers and sellers by providing a clear framework for property valuation.

Frequently asked questions

What is the current guideline value of Thangavel Nagar?

The current guideline value of Thangavel Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a decrease to Rs 469 per sq.ft in 2017, followed by a return to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Thangavel Nagar?

The land classification for Thangavel Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000.

Which Sub Registrar Office covers the area of Thangavel Nagar?

The Gooduvancheri Sub Registrar Office covers Thangavel Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.