Guideline Value for Thangavel Street

Thangavel Street guideline value

The current guideline value of Thangavel Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Thangavel Street has changed

The guideline value for Thangavel Street has seen several revisions over the years. Starting from Rs 360 per sq.ft in 2002, it increased to Rs 444 per sq.ft in 2003, marking a change of +23%. The value then rose significantly to Rs 600 per sq.ft in 2007, reflecting a +35% increase. By 2012, the guideline value was Rs 2,000 per sq.ft, which was a substantial +233% rise from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of -33%. The value then increased to Rs 2,000 per sq.ft in 2023, a +49% change, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a +10% increase.

There are no figures available for the revisions in the years not mentioned in the list provided. The overall change from 2002 to 2024 is +511%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thangavel Street's 2024 figure below that median.

• Tambaram Mayor Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Sweeper Quarters: Rs 1,320 per sq.ft (2024)
• Suthanthrapuram: Rs 1,650 per sq.ft (2024)
• Thiruneermalai Road: Rs 2,200 per sq.ft (2024)
• Thiruppur Kumaran street (G.S.T Road): Rs 6,600 per sq.ft (2024)
• Thiruppur Kumaran street (Radha nagar): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangavel Street?

The Sub Registrar Office that covers Thangavel Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is crucial for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Thangavel Street?

The current guideline value of Thangavel Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 360 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +511% over this period.

What is the classification of Thangavel Street?

Thangavel Street is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Thangavel Street located?

The Sub Registrar Office for Thangavel Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for property in Thangavel Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.