Guideline Value for GUILD STREET

Guild Street guideline value

The current guideline value of Guild Street, located in Tnagar village under the Thiyagaraya nagar SRO, is Rs 9,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Guild Street has changed

The guideline value for Guild Street has seen significant changes over the years. In 2002, the value was Rs 1,021 per sq.ft, which increased to Rs 1,134 per sq.ft in 2003, marking an increase of 11%. The value then rose sharply to Rs 2,000 per sq.ft in 2007, representing a 76% increase. Following this, the value surged to Rs 9,000 per sq.ft in 2012, a remarkable increase of 350%. However, it saw a decrease to Rs 6,030 per sq.ft in 2017, which was a drop of 33%. The value then increased to Rs 9,000 per sq.ft in 2023, and finally reached Rs 9,900 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 870%. There are no figures available in the register for the years not listed above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value for Guild Street is below this median.

• Habibulla 1st Street (Part 1 Upto North Usman Road): Rs 17,600 per sq.ft (2024)
• Habibullah 2 Street (Part II Up To Thirumalapillai Road): Rs 17,600 per sq.ft (2024)
• Habibullah 3rd Street: Rs 17,600 per sq.ft (2024)
• Habibullah Road (Part III Upto G.N.Chetty Street): Rs 17,600 per sq.ft (2024)
• Hanumantha Rao Road(Street)(Cross Street): Rs 9,900 per sq.ft (2024)
• Govindan Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Guild Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guild Street?

The Sub Registrar Office that covers Guild Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Guild Street?

The current guideline value of Guild Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,021 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 870% over this period.

What is the land classification for Guild Street?

The land classification for Guild Street is Residential Special Type - II.

Where can I find the registration office for Guild Street?

The registration office covering Guild Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 99,00,000, the stamp duty would be calculated at 7% of this amount.