Guideline Value for Thangavel Street Extension

Thangavel Street Extension guideline value

The current guideline value for Thangavel Street Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thangavel Street Extension has changed

The guideline value for Thangavel Street Extension has seen several revisions over the years. In 2002, the guideline value was Rs 298 per sq.ft, which increased to Rs 334 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of +199%. Following this, the value decreased to Rs 2,500 per sq.ft in 2012, a drop of -33%. The value then rose again to Rs 1,675 per sq.ft in 2017, showing an increase of +49%. In 2023, the guideline value was Rs 2,500 per sq.ft, and it increased to Rs 2,800 per sq.ft in 2024, representing a change of +12%.

Overall, from 2002 to 2024, the guideline value has increased by +840%. The register has no figures for the years between these revisions.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Thangavel Street Extension.

• Thangavel Avenue: Rs 2,800 per sq.ft (2024)
• Thamos Nagar Main: Rs 3,900 per sq.ft (2024)
• Thamos Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Thilagar Street: Rs 2,200 per sq.ft (2024)
• Subramaniya Bharathi Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thangavel Street Extension?

The Sub Registrar Office that covers Thangavel Street Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Ullagaram. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements and accurately calculate the fees involved.

When a property is registered, the guideline value is considered as a basis for taxation. This means that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Thangavel Street Extension?

The current guideline value of Thangavel Street Extension is Rs 2,800 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 298 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +840% over the years.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the official website and using the provided tools to locate the nearest office based on your property location.

What is the land classification for Thangavel Street Extension?

The land classification for Thangavel Street Extension is Residential Class II Type - I, indicating its designated use for residential purposes.