Guideline Value for Thangavel Street (Vetri Nagar)

Thangavel Street (Vetri Nagar) guideline value

The current guideline value of Thangavel Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Thangavel Street (Vetri Nagar) has changed

The guideline value for Thangavel Street (Vetri Nagar) has seen several revisions since 2002. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, before reaching Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017, only to increase again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 817%. The changes between specific revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a remarkable 329% increase from 2007 to 2012. The register has no figure for the years not listed specifically for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Thangavel Street (Vetri Nagar).

• Thanthoniamman Koil Street: Rs 2,700 per sq.ft (2024)
• Temple Road 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Temple Road 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Sundararaja Perumal Koil Street South: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Koil Street North: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Koil Street (Maniyammai Nagar): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total fees to Rs 2,97,090. 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 accurate calculations.

Which Sub Registrar Office covers Thangavel Street (Vetri Nagar)?

The Sub Registrar Office that covers Thangavel Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of Thangavel Street (Vetri Nagar)?

The current guideline value of Thangavel Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

What is the land classification for Thangavel Street (Vetri Nagar)?

Thangavel Street (Vetri Nagar) falls under the Residential Special Type - II land classification.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Thangavel Street (Vetri Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,01,000 would incur a stamp duty of Rs 2,31,070 at a rate of 7%.