Guideline Value for Tharachand Nagar Annex

Tharachand Nagar Annex guideline value

The current guideline value of Tharachand Nagar Annex is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Tharachand Nagar Annex has changed

Over the years, the guideline value of Tharachand Nagar Annex has seen significant changes. The register shows that in 2002, the guideline value was Rs 584 per sq.ft, which increased to Rs 647 per sq.ft in 2003. The value then rose to Rs 750 per sq.ft in 2007, before jumping to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017, and subsequently increased to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 3,300 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +11%, followed by a +16% rise from 2003 to 2007. The jump from 2007 to 2012 was +300%, but then there was a decrease of -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and from 2023 to 2024, it rose by +10%. 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. Tharachand Nagar Annex's 2024 figure is below this median.

• Tharachand Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Tharachand Nagar Main Road: 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 Annex

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total amount 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tharachand Nagar Annex?

The Sub Registrar Office that covers Tharachand Nagar Annex 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 plays a crucial role in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

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

Frequently asked questions

What is the current guideline value of Tharachand Nagar Annex?

The current guideline value of Tharachand Nagar Annex 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 significantly from Rs 584 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +465% over this period.

What is the stamp duty rate for property in Tharachand Nagar Annex?

The stamp duty rate for property in Tharachand Nagar Annex is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Tharachand Nagar Annex located?

The Sub Registrar Office for Tharachand Nagar Annex is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How can I calculate the registration fees for property transactions?

You can calculate the registration fees for property transactions using the stamp duty and registration fee calculator available online.