Guideline Value for Car Street

Car Street guideline value

The current guideline value of Car Street in Thiruverkadu village, under the Kunrathur SRO, is Rs 1,540 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Car Street has changed

The guideline value of Car Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 252 per sq.ft, which saw a significant increase to Rs 1,400 per sq.ft in the 2012 revision. However, this value decreased to Rs 938 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 1,400 per sq.ft, and the latest 2024 revision increased it to Rs 1,540 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 511%. Notably, there are no figures available for Car Street in the 2002 and 2003 revisions.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is equal to the guideline value of Car Street.

• Bus Stand upto Sivan Koil: Rs 1,760 per sq.ft (2024)
• Bharathi Nagar: Rs 1,540 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 1,540 per sq.ft (2024)
• Barathi Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Car Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost together to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Car Street?

The Sub Registrar Office that covers Car Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruverkadu. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value helps in establishing a baseline for the sale price, which is crucial for both buyers and sellers. It ensures transparency in property transactions and helps in avoiding disputes regarding property valuations.

Frequently asked questions

What is the current guideline value of Car Street?

The current guideline value of Car Street is Rs 1,540 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value of Car Street changed over the years?

The guideline value has seen several changes, starting from Rs 252 per sq.ft in 2007, increasing to Rs 1,400 in 2012, then decreasing to Rs 938 in 2017, and finally rising to Rs 1,540 in 2024.

What is the land classification of Car Street?

Car Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the region.

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

The Sub Registrar Office for Car Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Car Street?

Stamp duty is 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 rate, the total guideline value is Rs 15,40,000, leading to a stamp duty of Rs 1,07,800.