Guideline Value for Thangavelu Nagar

Thangavelu Nagar guideline value

The current guideline value for Thangavelu Nagar, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Thangavelu Nagar has changed

Over the years, the guideline value of Thangavelu Nagar has seen significant changes. The earliest available figure is from the 2007 revision, which was Rs 620 per sq.ft. This value increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a 384% rise. The 2023 revision maintained the value at Rs 3,000 per sq.ft, and in the latest 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Thangavelu Nagar's 2024 figure below the median.

• Thandavagramini Street: Rs 3,300 per sq.ft (2024)
• Thambiya Reddy Main Road: Rs 7,700 per sq.ft (2024)
• Thanthai Periyar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thadirathinam Street Block 85: Rs 4,100 per sq.ft (2024)
• Thilagar Street (Kattabomman Block): Rs 4,900 per sq.ft (2024)
• Thilagar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavelu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangavelu Nagar?

The Sub Registrar Office that covers Thangavelu Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Thangavelu Nagar?

The current guideline value of Thangavelu Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432% over the years.

What is the land classification of Thangavelu Nagar?

Thangavelu Nagar is classified as Residential Class IV Type - II.

What are the registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Thangavelu Nagar?

The Ashok Nagar Sub Registrar Office handles registrations for Thangavelu Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.