Guideline Value for Thangavel Nagar

Thangavel Nagar guideline value

The current guideline value of Thangavel Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Thangavel Nagar has changed

The guideline value for Thangavel Nagar has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023 and further rose to Rs 1,900 per sq.ft in 2024.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The latest revision from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is equal to the current value for Thangavel Nagar.

• Swamy Nagar: Rs 1,600 per sq.ft (2024)
• Sutha Nagar: Rs 1,900 per sq.ft (2024)
• Thirumal Nagar: Rs 1,900 per sq.ft (2024)
• Thirumal Nagar Extn (Part I): Rs 1,900 per sq.ft (2024)
• Thirumal Nagar Extn (Part II): Rs 1,900 per sq.ft (2024)
• Thirumal Nagar Extn (Part III): Rs 1,900 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that the 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 more information on these costs.

Which Sub Registrar Office covers Thangavel Nagar?

The Sub Registrar Office that covers Thangavel Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Puthagaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thangavel Nagar?

The current guideline value of Thangavel Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Thangavel Nagar?

Thangavel Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Thangavel Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.