Guideline Value for THAKAR STREET

Thakar Street guideline value

The current guideline value of Thakar Street, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 6,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Thakar Street has changed

The guideline value of Thakar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,800 per sq.ft. This figure increased significantly in the 2012 revision to Rs 6,000 per sq.ft, marking an increase of 233%. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The 2023 revision saw an increase to Rs 6,000 per sq.ft, followed by the current 2024 revision where it rose to Rs 6,500 per sq.ft, reflecting an 8% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 261%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Thakar Street's 2024 figure above this median.

• Temple Road / Lane: Rs 6,000 per sq.ft (2024)
• Thambuswamy Street & Road: Rs 13,200 per sq.ft (2024)
• Thana Street(A) Kanthappa Mudali High Road: Rs 9,900 per sq.ft (2024)
• Thandavan Achary Street: Rs 7,100 per sq.ft (2024)
• Thandavarayan Street: Rs 7,100 per sq.ft (2024)
• Sylvan Lodge Colony 4th Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thakar Street?

The Sub Registrar Office that covers Thakar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Purasaivakkam. When buying or selling property, it serves as a benchmark for determining the stamp duty and registration fees that need to be paid. The guideline value is assessed by the Registration Department and is updated periodically to reflect changes in the market.

During the registration process, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thakar Street?

The current guideline value of Thakar Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Thakar Street's value being above this median.

What are the stamp duty and registration fees for properties in Thakar Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 5,85,000, based on the guideline value of Rs 65,00,000.

Where is the Sub Registrar Office for Thakar Street located?

The Sub Registrar Office covering Thakar Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.