Guideline Value for Tharachand Nagar Main Road

Tharachand Nagar Main Road guideline value

The current guideline value of Tharachand Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Tharachand Nagar Main Road has changed

The guideline value for Tharachand Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 584 per sq.ft, which increased to Rs 647 per sq.ft in 2003, marking an 11% rise. The value then rose by 16% to Rs 750 per sq.ft in 2007. Following this, there was a significant increase of 300%, bringing the value to Rs 3,000 per sq.ft in 2012. However, the value dropped by 33% to Rs 2,010 per sq.ft in 2017. The next revision in 2023 saw an increase of 49%, raising the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years between these revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 465%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Tharachand Nagar Main Road is below this median.

• Tharachand Nagar Annex: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Thangal Ulvai Street: Rs 2,750 per sq.ft (2024)
• Thangal Ulvai Lane: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Tharachand Nagar Main Road

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

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Tharachand Nagar Main Road?

The Sub Registrar Office that covers Tharachand Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Tharachand Nagar Main Road?

The current guideline value of Tharachand Nagar Main Road 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 changed several times, starting from Rs 584 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 465% over the years.

What are the stamp duty rates for properties in Tharachand Nagar Main Road?

The stamp duty for properties in Tharachand Nagar Main Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Tharachand Nagar Main Road?

The land classification for Tharachand Nagar Main Road is Residential Class IV Type - I.