Guideline Value for Thomas Nagar Main Road

Thomas Nagar Main Road guideline value

The current guideline value of Thomas Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Thomas Nagar Main Road has changed

The guideline value for Thomas Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 251 per sq.ft, which increased to Rs 281 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it jumped to Rs 3,500 per sq.ft in 2012. However, the value decreased to Rs 2,345 per sq.ft in 2017, before rising to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

The changes between the revisions are notable. From 2002 to 2003, the increase was +12%. The jump from 2003 to 2007 was +327%, and from 2007 to 2012, there was an increase of +192%. However, from 2012 to 2017, the value decreased by -33%. The value then increased by +49% from 2017 to 2023, and finally, from 2023 to 2024, it rose by +11%. Overall, from 2002 to 2024, the guideline value has increased by +1454%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing Thomas Nagar Main Road's 2024 figure above that median.

• Throwpathi Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,800 per sq.ft (2024)
• Ullagaram puzhudivakkam Joining Road: Rs 3,900 per sq.ft (2024)
• Union carbide Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 3rd Street: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total charges Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thomas Nagar Main Road?

The Sub Registrar Office that covers Thomas Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When you buy or sell property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately with the relevant authorities. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Thomas Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 251 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1454% over the years.

What is the land classification for Thomas Nagar Main Road?

Thomas Nagar Main Road is classified as Residential Class I Type - III, indicating its designation for residential use.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Thomas Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot, the total charges would amount to Rs 3,51,000, including both stamp duty and registration fees.