Guideline Value for Thillaiganga Nagar

Thillaiganga Nagar guideline value

The current guideline value of Thillaiganga Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This locality is situated in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Thillaiganga Nagar has changed

Over the years, the guideline value of Thillaiganga Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 245 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 390%. However, in 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,200 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from 2007 to 2024 shows an increase of 390%, with the guideline value remaining stable at Rs 1,200 per sq.ft from 2023 to 2024.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Thillaiganga Nagar's 2024 figure aligns with this median value.

• Sri Vigneshwara Nagar: Rs 1,200 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 1,200 per sq.ft (2024)
• Varatharajalu Enclave: Rs 1,300 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,200 per sq.ft (2024)
• Vatchala Avenue: Rs 1,200 per sq.ft (2024)
• Vatchala Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thillaiganga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total charges to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thillaiganga Nagar?

The Sub Registrar Office that covers Thillaiganga Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial obligations involved in the transaction. Buyers must be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Thillaiganga Nagar?

The current guideline value of Thillaiganga Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017. It has remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Thillaiganga Nagar?

Thillaiganga Nagar is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for property in Thillaiganga Nagar?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Thillaiganga Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.