Guideline Value for Thangavel Nagar

Thangavel Nagar guideline value

The current guideline value of Thangavel Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Thangavel Nagar has changed

Over the years, the guideline value of Thangavel Nagar has seen significant changes. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012, marking a rise of 300%. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 340%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Thangavel Nagar's 2024 figure above this median.

• Teachers Colony: Rs 990 per sq.ft (2024)
• S.V. Nagar: Rs 770 per sq.ft (2024)
• ThiruMalai Nagar: Rs 990 per sq.ft (2024)
• Sun Ville: Rs 3,450 per sq.ft (2024)
• Sunshine Nagar: Rs 1,100 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangavel Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the sale price is either equal to or greater than the guideline value to avoid any discrepancies during registration.

Additionally, the guideline value is regularly updated to reflect changes in the real estate market. It is essential for both buyers and sellers to stay informed about the current guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Thangavel Nagar?

The current guideline value of Thangavel Nagar is Rs 1,320 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 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What is the land classification for Thangavel Nagar?

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

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

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

How is the stamp duty calculated for properties in Thangavel Nagar?

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 the current guideline value would incur a stamp duty of Rs 92,400.