Guideline Value for Thillai ganga Nagar 5th Main Road

Thillai ganga Nagar 5th Main Road guideline value

The current guideline value of Thillai ganga Nagar 5th Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This street 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 5th Main Road has changed

The guideline value for Thillai ganga Nagar 5th Main Road has seen several revisions over the years. In 2007, the value was set at Rs 1,250 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a growth of 260%. However, in 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 5,000 per sq.ft in 2024, which is an increase of 11% from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The changes between the revisions highlight the fluctuations in the property values over time, with the most significant increase occurring between 2012 and 2017, and the most recent increase from 2023 to 2024.

Guideline values in Palavanthangal

In Palavanthangal, the 2024 guideline values for various streets range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Thillai ganga Nagar 5th Main Road is above this median, reflecting its unique characteristics and demand.

• Thillai Ganga Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 9th street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai ganga Nagar 5th 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 is charged at 7%, resulting in Rs 3,50,000, while the registration fee at 2% amounts to Rs 1,00,000. Together, these fees total Rs 4,50,000. It is important to note that 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 5th Main Road?

The Sub Registrar Office that covers Thillai ganga Nagar 5th 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value in accordance with government regulations.

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

Frequently asked questions

What is the current guideline value of Thillai ganga Nagar 5th Main Road?

The current guideline value of Thillai ganga Nagar 5th 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 significantly, from Rs 1,250 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of 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 5th Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Thillai ganga Nagar 5th Main Road?

Thillai ganga Nagar 5th Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.