Guideline Value for Thiruthangal Nagar 1st Street

Thiruthangal Nagar 1st Street guideline value

The current guideline value of Thiruthangal Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruthangal Nagar 1st Street has changed

The guideline value for Thiruthangal Nagar 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 22%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street in the register.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Thiruthangal Nagar 1st Street.

• Thiruthangal Nagar: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal College Road: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruthangal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value, the total value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Thiruthangal Nagar 1st Street?

The Sub Registrar Office that covers Thiruthangal Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Selavoyal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is officially recorded with the appropriate authorities.

When a property is sold or purchased, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Thiruthangal Nagar 1st Street?

The current guideline value of Thiruthangal Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 22% increase over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in this area?

The Madhavaram Sub Registrar Office handles property registrations for Thiruthangal Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is revised periodically to reflect current market conditions.