Guideline Value for THACHI ARUNACHALAM STREET

Thachi Arunachalam Street guideline value

The current guideline value of Thachi Arunachalam Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Thachi Arunachalam Street has changed

The guideline value for Thachi Arunachalam Street has seen significant changes over the years. The earliest recorded revision is from 2002, with a guideline value of Rs 783 per sq.ft. This increased to Rs 870 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 1,540 per sq.ft in 2007, reflecting a 77% change. By 2012, the value had surged to Rs 6,500 per sq.ft, which was a remarkable 322% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, indicating a 9% increase from the 2012 figure. Notably, there are no recorded figures for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thachi Arunachalam Street's 2024 figure is below this median.

• Thalayari Street / Sanjeevi Street: Rs 7,100 per sq.ft (2024)
• Thanappa Street(Lane): Rs 7,100 per sq.ft (2024)
• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Teachers Colony: Rs 7,100 per sq.ft (2024)
• Syed Wahap Hussain Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thachi Arunachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. 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 Thachi Arunachalam Street?

The Sub Registrar Office that covers Thachi Arunachalam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and recorded, providing legal protection to both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Thachi Arunachalam Street?

The current guideline value of Thachi Arunachalam Street is Rs 7,100 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 783 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 807% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is generally charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thachi Arunachalam Street?

The Sub Registrar Office for Thachi Arunachalam Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is essential as it determines the minimum registration value for properties, influencing the stamp duty and registration fees payable during property transactions in Mylapore.