Guideline Value for Thirumangalam Nagar (Vinayagapuram)

Thirumangalam Nagar (Vinayagapuram) guideline value

The current guideline value of Thirumangalam Nagar (Vinayagapuram) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thirumangalam Nagar (Vinayagapuram) has changed

The guideline value for Thirumangalam Nagar (Vinayagapuram) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly by 62% to reach the current rate of Rs 1,300 per sq.ft. Notably, there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2023.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. The changes reflect a complex history of fluctuations, with a notable drop from 2012 to 2017 followed by a substantial increase in the most recent revision.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Thirumangalam Nagar (Vinayagapuram) is below the median.

• Thirumal Nagar (Vinayagapuram): Rs 1,600 per sq.ft (2024)
• Thirumal Nagar: Rs 1,600 per sq.ft (2024)
• Thirumurugan 1st Street (Ward 10): Rs 1,300 per sq.ft (2024)
• Thirumurugan 2nd Street (Ward 10): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,300 per sq.ft (2024)
• Thirumalai Nagar (Ward-29): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumangalam Nagar (Vinayagapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumangalam Nagar (Vinayagapuram)?

The Sub Registrar Office that covers Thirumangalam Nagar (Vinayagapuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure proper compliance with the registration requirements.

When registering a property, the guideline value serves as a benchmark to ascertain the minimum value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirumangalam Nagar (Vinayagapuram)?

The current guideline value of Thirumangalam Nagar (Vinayagapuram) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification of Thirumangalam Nagar (Vinayagapuram)?

Thirumangalam Nagar (Vinayagapuram) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Thirumangalam Nagar (Vinayagapuram)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 91,000.