Guideline Value for North Terminus Road

North Terminus Road guideline value

The current guideline value of North Terminus Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - II.

How the guideline value of North Terminus Road has changed

The guideline value for North Terminus Road has undergone several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2024 saw a substantial increase to Rs 1,600 per sq.ft, marking a 59% rise from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 129%. Notably, there are no figures available for the years 2002, 2003, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, 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 value is Rs 1,600 per sq.ft, which is also the current guideline value for North Terminus Road.

• North Railway Terminal salai (Harbour Area): Rs 1,300 per sq.ft (2024)
• North Railway Eriyuttu street: Rs 1,300 per sq.ft (2024)
• North Mada Street Extension: Rs 3,800 per sq.ft (2024)
• North Mada Street: Rs 3,800 per sq.ft (2024)
• North MadaKoil Street: Rs 3,800 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in North Terminus Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, summing up to a total of Rs 1,44,000. It is important to note that 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 North Terminus Road?

The North Terminus Road is covered by 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 determines the minimum value at which the property must be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of North Terminus Road?

The current guideline value of North Terminus Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 129% over these years.

What is the land classification of North Terminus Road?

North Terminus Road is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find the Sub Registrar Office for North Terminus Road?

The Sub Registrar Office covering North Terminus Road is the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.