Guideline Value for Union Street

Union Street guideline value

The current guideline value of Union Street in Thirumangalam village is Rs 400 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Union Street has changed

The guideline value for Union Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft, which was maintained in the 2023 revision.

As of the 2024 revision, the guideline value remains at Rs 400 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value for these streets is Rs 605 per sq.ft, which indicates that Union Street's 2024 figure is below the median.

• Thriruvalluvar Street: Rs 605 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Vasuki Thirumana Mahal): Rs 1,750 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Palkarar Street): Rs 2,000 per sq.ft (2024)
• Thiruvallur Road (Annai Velanganni Nagar First Street to Kandigai): Rs 2,000 per sq.ft (2024)
• Velankanni Nagar: Rs 605 per sq.ft (2024)
• Walajabad Road: Rs 1,750 per sq.ft (2024)

Stamp duty and registration fee for property in Union Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 precise calculations.

Which Sub Registrar Office covers Union Street?

The Sub Registrar Office that covers Union Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate various fees, including stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, making it essential for buyers and sellers to be aware of the current guideline values in their area.

Frequently asked questions

What is the current guideline value of Union Street?

The current guideline value of Union Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in 2012, 2023, and 2024. It decreased to Rs 268 per sq.ft in 2017 and increased by 49% to Rs 400 per sq.ft in 2023.

What is the land classification for Union Street?

Union Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Union Street?

The Sub Registrar Office for Union Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 36,000.