Guideline Value for Thiruvengada Nagar

Thiruvengada Nagar guideline value

The current guideline value of Thiruvengada Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is part of Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thiruvengada Nagar has changed

The guideline value for Thiruvengada Nagar has seen several revisions over the years. In 2002, the value was Rs 264 per sq.ft, which increased to Rs 325 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before reaching Rs 2,000 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

Examining the changes, from 2002 to 2024, there has been an overall increase of 733%. The revision from 2012 to 2017 saw a decrease of 33%, while the value surged by 300% from 2007 to 2012. The increase from 2017 to 2023 was 49%, and the latest revision from 2023 to 2024 reflects a 10% rise.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Thiruvengada Nagar is below this median.

• Thiruvalluvar Street: Rs 1,650 per sq.ft (2024)
• Thiruvalluvarpuram: Rs 2,200 per sq.ft (2024)
• T.K. Chetty Street: Rs 1,320 per sq.ft (2024)
• Thiruppur Kumaran street(Radha nagar): Rs 1,650 per sq.ft (2024)
• Thiruppur Kumaran street (G.S.T Road): Rs 6,600 per sq.ft (2024)
• Thiruneermalai Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvengada Nagar

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, bringing the total fees 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 based on your specific property details.

Which Sub Registrar Office covers Thiruvengada Nagar?

The Sub Registrar Office that covers Thiruvengada Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Tambaram. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair value. Buyers and sellers must be aware of this value as it directly impacts the registration fees and stamp duty applicable during the transaction.

When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is transparent and adheres to the regulations set by the government, protecting both buyers and sellers in the process.

Frequently asked questions

What is the current guideline value of Thiruvengada Nagar?

The current guideline value of Thiruvengada Nagar 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 increased from Rs 264 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 733% over this period.

What is the land classification for Thiruvengada Nagar?

The land classification for Thiruvengada Nagar is Residential Class I Type - II.

What are the stamp duty and registration fees for properties in Thiruvengada Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Where is the Sub Registrar Office for Thiruvengada Nagar located?

The Sub Registrar Office for Thiruvengada Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.