Guideline Value for Thillai Ganga Nagar First Main Road

Thillai Ganga Nagar First Main Road guideline value

The current guideline value for Thillai Ganga Nagar First Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This road is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thillai Ganga Nagar First Main Road has changed

The guideline value for Thillai Ganga Nagar First Main Road has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,400 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 221%. However, the value then dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. Following this, the value surged to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, an increase of 11% from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 257%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, placing Thillai Ganga Nagar First Main Road above this median value.

• Thillai Ganga Nagar 9th street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar First Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar First Main Road?

The Sub Registrar Office that covers Thillai Ganga Nagar First Main Road 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 further assistance.

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

The guideline value is an essential factor when buying or selling property in Palavanthangal, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property transaction occurs, the guideline value helps in assessing the financial obligations of the buyer, including the necessary fees. This process ensures transparency and fairness in property transactions, aligning the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar First Main Road?

The current guideline value of Thillai Ganga Nagar First Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting a total increase of 257% over the years.

What are the registration fees for property in Thillai Ganga Nagar First Main Road?

The registration fees for property in Thillai Ganga Nagar First Main Road include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Thillai Ganga Nagar First Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Palavanthangal?

The median guideline value in Palavanthangal is Rs 3,900 per sq.ft, while Thillai Ganga Nagar First Main Road's guideline value is above this median.