Guideline Value for THALAYARI STREET

Thalayari Street guideline value

The current guideline value of Thalayari Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thalayari Street has changed

The guideline value for Thalayari Street has seen several revisions over the years. In 2002, the value was Rs 689 per sq.ft, which increased to Rs 765 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 96% increase. Following this, the value jumped to Rs 6,000 per sq.ft in 2012, a substantial 300% increase. However, it decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and finally reached Rs 6,600 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 858%. There are no figures available for the revisions in years not mentioned above.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Thalayari Street.

• Thambiah Reddy Road: Rs 15,400 per sq.ft (2024)
• Subba Reddy Street: Rs 7,700 per sq.ft (2024)
• Station View Road: Rs 8,300 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thalayari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. 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 more information.

Which Sub Registrar Office covers Thalayari Street?

The Sub Registrar Office that covers Thalayari Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more details, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps both parties understand the official valuation of the property. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Thalayari Street?

The current guideline value of Thalayari Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 689 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 858%.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, which is the same as the current value for Thalayari Street.

What are the stamp duty and registration fees for property in Thalayari Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000, leading to a stamp duty of Rs 4,62,000 and a registration fee of Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Thalayari Street located?

The Sub Registrar Office for Thalayari Street is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.