Guideline Value for New Thandavarayan Street

New Thandavarayan Street guideline value

The current guideline value of New Thandavarayan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, with a land classification of Commercial Class I Type - II.

How the guideline value of New Thandavarayan Street has changed

The guideline value for New Thandavarayan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,367 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in the 2012 revision, marking a change of +339%. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, reflecting a +10% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +383%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing New Thandavarayan Street's 2024 figure above this median.

• New Vaidhyanathan Street: Rs 4,400 per sq.ft (2024)
• New Vinoba Nagar 1st street: Rs 1,300 per sq.ft (2024)
• New Vinoba Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• New Soliappan Street: Rs 2,200 per sq.ft (2024)
• New Sastri Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Thandavarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Thandavarayan Street?

The Sub Registrar Office that covers New Thandavarayan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction is in compliance with local regulations. Buyers and sellers should be aware of this value to accurately calculate their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of New Thandavarayan Street?

The current guideline value of New Thandavarayan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,367 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of +383%.

What are the other streets in Tondaiarpet and their guideline values?

Other streets in Tondaiarpet include New Vaidhyanathan Street at Rs 4,400 per sq.ft, and several streets in New Vinoba Nagar at Rs 1,300 per sq.ft each. New Soliappan Street is valued at Rs 2,200 per sq.ft.

How is the stamp duty calculated for properties in New Thandavarayan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

Where can I find the Sub Registrar Office for New Thandavarayan Street?

The Sub Registrar Office for New Thandavarayan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.