Guideline Value for Tharangeswari Nagar

Tharangeswari Nagar guideline value

The current guideline value of Tharangeswari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Tharangeswari Nagar has changed

Over the years, the guideline value of Tharangeswari Nagar has seen significant changes. The earliest recorded figure is from 2007, where the value was Rs 750 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 300%. However, between 2012 and 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The 2023 revision saw a notable increase to Rs 3,000 per sq.ft, followed by a further rise of 10% to the current value of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 340%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam village, 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, with a median value of Rs 2,200 per sq.ft. Tharangeswari Nagar's 2024 figure is above this median.

• Tharangeswari Nagar 1st Street: 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

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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tharangeswari Nagar?

The Sub Registrar Office that covers Tharangeswari Nagar 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 further assistance.

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

The guideline value plays a crucial role in the property registration process in Chembakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tharangeswari Nagar?

The current guideline value of Tharangeswari 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 changed significantly 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 of Tharangeswari Nagar?

Tharangeswari Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Tharangeswari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would amount to Rs 2,31,000.