Guideline Value for Thomas Nagar

Thomas Nagar guideline value

The current guideline value for Thomas Nagar in Atanancheri village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Thomas Nagar has changed

The guideline value for Thomas Nagar has seen several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017, marking a reduction of 33%. From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 500 per sq.ft, where it remained unchanged until the latest revision in 2024.

From 2024, the guideline value stands at Rs 500 per sq.ft, showing no change from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 317%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, indicating that Thomas Nagar's current value is below this median.

• United Avenue: Rs 1,050 per sq.ft (2024)
• Thirumagal Nagar (Extn): Rs 700 per sq.ft (2024)
• Thirumagal Nagar: Rs 700 per sq.ft (2024)
• Varunesh Nagar: Rs 800 per sq.ft (2024)
• Vasantha Nagar: Rs 600 per sq.ft (2024)
• Thangavel Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Thomas Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total Rs 45,000. 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 Thomas Nagar?

The Sub Registrar Office that covers Thomas Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Atanancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thomas Nagar?

The current guideline value of Thomas Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value of Thomas Nagar changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Atanancheri?

The median guideline value for streets in Atanancheri is Rs 700 per sq.ft, while Thomas Nagar's current value is below this median.

What are the stamp duty and registration fees for property in Thomas Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Where is the Sub Registrar Office for Thomas Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.