Guideline Value for Thungabhadra Nagar

Thungabhadra Nagar guideline value

The current guideline value of Thungabhadra Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Thungabhadra Nagar has changed

The guideline value for Thungabhadra Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 80 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 900%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then increased by 49% to Rs 800 per sq.ft in 2023, and it remained unchanged at Rs 800 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, a total of 83 streets fall under the Chengleput Joint II SRO, with guideline values ranging from Rs 500 to Rs 2,850 per sq.ft. The median guideline value for the village is Rs 700 per sq.ft, placing Thungabhadra Nagar's 2024 figure above that median.

• Vaigai Nagar: Rs 700 per sq.ft (2024)
• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Varadharaji Nagar: Rs 800 per sq.ft (2024)
• The Central Govt Staff Cooprative Nagar: Rs 500 per sq.ft (2024)
• Thangappapuram: Rs 700 per sq.ft (2024)
• Teacher Sumangali Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Thungabhadra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thungabhadra Nagar?

The Sub Registrar Office that covers Thungabhadra Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Perumattu Nellore

The guideline value is a crucial factor when buying or selling property in Perumattu Nellore. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps ensure that all transactions are compliant with local regulations. It serves as a benchmark for property transactions, providing transparency and clarity in the buying and selling process.

Frequently asked questions

What is the current guideline value of Thungabhadra Nagar?

The current guideline value of Thungabhadra Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and increased back to Rs 800 per sq.ft in 2023 and 2024.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 72,000, based on the current guideline value.

Which Sub Registrar Office covers Thungabhadra Nagar?

The Chengleput Joint II Sub Registrar Office covers Thungabhadra Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with local regulations.