Guideline Value for OTHER CROSS STREETS

Other Cross Streets guideline value

The current guideline value for Other Cross Streets in Thandurai village, under the Avadi SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Other Cross Streets has changed

Looking back at the revisions, the guideline value for Other Cross Streets has seen various changes over the years. In 2002, the value was Rs 71 per sq.ft, which increased to Rs 82 per sq.ft in 2003. By 2007, it rose significantly to Rs 386 per sq.ft, and then to Rs 800 per sq.ft in 2012. The value remained at Rs 800 per sq.ft until 2023, when it did not change, remaining at Rs 800 per sq.ft. The most recent revision in 2024 has kept the value at Rs 800 per sq.ft.

From 2017 to 2023, the value saw an increase of 49% from Rs 536 per sq.ft to Rs 800 per sq.ft. The largest increase occurred from 2002 to 2007, where the value jumped by 371%. Overall, from 2002 to 2024, the guideline value has increased by 1027%.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value for these streets is Rs 988 per sq.ft, indicating that the guideline value for Other Cross Streets is below the median.

• Ortiyal Road: Rs 1,980 per sq.ft (2024)
• Om Sri Mahalakshmi Nagar: Rs 989 per sq.ft (2024)
• Om Saravana Nagar: Rs 988 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 801 per sq.ft (2024)
• Pallaikooda Cross St, M.K.Bharathi Nagar: Rs 988 per sq.ft (2024)
• Palla Street: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Other Cross Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Other Cross Streets?

The Sub Registrar Office that covers Other Cross Streets is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Thandurai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when agreeing on a sale price, as it impacts the stamp duty and registration fees payable at the time of registration.

When registering a property, the guideline value ensures that the government receives appropriate revenue through stamp duty. It is essential for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Other Cross Streets?

The current guideline value for Other Cross Streets in Thandurai village is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 71 per sq.ft in 2002 to Rs 800 per sq.ft in 2024. The most significant increase was from Rs 71 in 2002 to Rs 386 in 2007.

What is the median guideline value for streets in Thandurai?

The median guideline value for streets in Thandurai is Rs 988 per sq.ft, while Other Cross Streets has a value of Rs 800 per sq.ft, which is below the median.

What are the stamp duty and registration fees for a property in Other Cross Streets?

For a property valued at Rs 8,00,000, the total stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Other Cross Streets?

The Avadi Sub Registrar Office handles the registration for Other Cross Streets, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.