Guideline Value for Thiruthangal Nagar 2nd Street

Thiruthangal Nagar 2nd Street guideline value

The current guideline value of Thiruthangal Nagar 2nd 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 2nd Street has changed

The guideline value for Thiruthangal Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,000 per sq.ft in 2023, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 22%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value for Thiruthangal Nagar 2nd Street.

• Thiruthangal Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Thiruthangal College Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruthangal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Thiruthangal Nagar 2nd Street?

The Sub Registrar Office that covers Thiruthangal Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thiruthangal Nagar 2nd Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Thiruthangal Nagar 2nd Street?

The land classification for Thiruthangal Nagar 2nd Street is Residential Class II Type - I.

Where is the Madhavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Thiruthangal Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.