Guideline Value for THAIYUMANAVAR STREET (WARD -5)

Thaiyumanavar Street (Ward -5) guideline value

The current guideline value of Thaiyumanavar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thaiyumanavar Street (Ward -5) has changed

Over the years, the guideline value for Thaiyumanavar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,200 per sq.ft. The most recent 2024 revision has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are a total of 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Thaiyumanavar Street's 2024 figure above the median.

• Thalamuthu Natarajan Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Thaniskeyar (Per): Rs 1,320 per sq.ft (2024)
• Swamy Nagar (Kr): Rs 660 per sq.ft (2024)
• Thembavani Street (N): Rs 1,320 per sq.ft (2024)
• Surendrapuram (N): Rs 660 per sq.ft (2024)
• Thenral Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Thaiyumanavar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thaiyumanavar Street (Ward -5)?

The Sub Registrar Office that covers Thaiyumanavar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Sattamangalam. It is the minimum value set by the government for property transactions, ensuring that the registration fee and stamp duty are calculated appropriately based on this value.

When buying or selling property, the guideline value is referenced to determine the official value of the property for tax purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Thaiyumanavar Street (Ward -5)?

The current guideline value of Thaiyumanavar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. This shows fluctuations in the value over the years.

What is the median guideline value in Sattamangalam?

The median guideline value in Sattamangalam is Rs 1,100 per sq.ft. Thaiyumanavar Street's current value of Rs 1,320 per sq.ft is above this median.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Thaiyumanavar Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Thaiyumanavar Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.