Guideline Value for Thillai Ganga Nagar 2nd Street

Thillai Ganga Nagar 2nd Street guideline value

The current guideline value of Thillai Ganga Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Thillai Ganga Nagar 2nd Street has changed

Over the years, the guideline value of Thillai Ganga Nagar 2nd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,250 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 180%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 set the value at Rs 3,500 per sq.ft, which then rose to Rs 3,900 per sq.ft in 2024, an increase of 11%.

In summary, from the 2007 revision to the current 2024 figure, there has been an overall increase of 212%. It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Thillai Ganga Nagar 2nd Street.

• Thillai Ganga Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 18th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 15th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Thillai Ganga Nagar 2nd Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 2nd Street?

The current guideline value of Thillai Ganga Nagar 2nd Street is Rs 3,900 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 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 212% over the years.

What is the land classification for Thillai Ganga Nagar 2nd Street?

Thillai Ganga Nagar 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office covering Thillai Ganga Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Thillai Ganga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.