Guideline Value for Thiruthangal Nagar Main Road

Thiruthangal Nagar Main Road guideline value

The current guideline value of Thiruthangal Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Thiruthangal Nagar Main Road has changed

The guideline value for Thiruthangal Nagar Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,800 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, followed by a significant rise to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 26%, but it then surged by 49% from 2017 to 2023. Overall, from 2012 to 2024, there has been an increase of 22%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, 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, with a median value of Rs 2,200 per sq.ft. The guideline value for Thiruthangal Nagar Main Road is equal to this median.

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

Stamp duty and registration fee for property in Thiruthangal Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, making the total cost Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruthangal Nagar Main Road?

The Sub Registrar Office that covers Thiruthangal Nagar Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the property's worth. Buyers need to be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thiruthangal Nagar Main Road?

The current guideline value of Thiruthangal Nagar Main Road 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 2,200 per sq.ft in 2024, with various increases and decreases in between, including a significant rise of 49% from 2017 to 2023.

What is the land classification for Thiruthangal Nagar Main Road?

Thiruthangal Nagar Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations in Selavoyal?

The Madhavaram Sub Registrar Office handles property registrations in Selavoyal, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.