Guideline Value for Chinna Thambiran Street

Chinna Thambiran Street guideline value

The current guideline value of Chinna Thambiran Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Chinna Thambiran Street has changed

The guideline value for Chinna Thambiran Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Chinna Thambiran Street for the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which means that Chinna Thambiran Street's 2024 figure is below this median.

• Choudry Street / Kandasamy Street: Rs 2,200 per sq.ft (2024)
• Chenngaiyar Maistry Street: Rs 2,200 per sq.ft (2024)
• Chenngaiya Mastry 1st Lane: Rs 2,200 per sq.ft (2024)
• Bunk Street: Rs 1,900 per sq.ft (2024)
• Big Street: Rs 1,900 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Thambiran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee, charged at 2%, would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna Thambiran Street?

The Sub Registrar Office that covers Chinna Thambiran Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in Erukancherry, the guideline value will determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Chinna Thambiran Street?

The current guideline value of Chinna Thambiran Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Chinna Thambiran Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is responsible for Chinna Thambiran Street.

How do the guideline values in Erukancherry compare?

In Erukancherry, the guideline values range from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Chinna Thambiran Street's guideline value is below this median at Rs 2,200 per sq.ft.