Guideline Value for Thangavel Nagar

Thangavel Nagar guideline value

The current guideline value of Thangavel Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II 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 set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the most recent revision in 2024 increased the value to Rs 1,600 per sq.ft, representing a significant increase of 59% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Thangavel Nagar.

• Thangavel Nagar, Ponniammanmedu (Ward-24): Rs 1,600 per sq.ft (2024)
• Thanickachalam Nagar A Block 1st Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 3rd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 4th Cross Street 2nd Line (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 4th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar B Block 1st Cross Street (Ward 21): Rs 2,700 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees amount to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thangavel Nagar?

The current guideline value of Thangavel Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the land classification of Thangavel Nagar?

Thangavel Nagar is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Thangavel Nagar?

The stamp duty for a property in Thangavel Nagar is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,44,000.

Where is the Sub Registrar Office for Thangavel Nagar located?

The Sub Registrar Office for Thangavel Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.