Guideline Value for Tharangeswari Nagar 1st Street

Tharangeswari Nagar 1st Street guideline value

The current guideline value of Tharangeswari Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Tharangeswari Nagar 1st Street has changed

The guideline value for Tharangeswari Nagar 1st Street has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The subsequent revision in 2023 brought the value back up 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, a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the 2024 guideline value of Tharangeswari Nagar 1st Street above this median.

• Tharangeswari Nagar: Rs 3,300 per sq.ft (2024)
• Tharangeswari Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Tharangeswari Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Tharangeswari Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Thangammal Avenue: Rs 3,300 per sq.ft (2024)
• Thirukkural 1st Cross Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Tharangeswari Nagar 1st Street

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 fees to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Tharangeswari Nagar 1st Street?

The Sub Registrar Office that covers Tharangeswari Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor during property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded at a fair value, reflecting the current market conditions.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Tharangeswari Nagar 1st Street?

The current guideline value of Tharangeswari Nagar 1st Street 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 from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification for Tharangeswari Nagar 1st Street?

The land classification for Tharangeswari Nagar 1st Street is Commercial Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

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

Which office handles the registration for Tharangeswari Nagar 1st Street?

The Selaiyur Sub Registrar Office handles the registration for Tharangeswari Nagar 1st Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.