Guideline Value for THAMARAI KUDIYERUPPU

Thamarai Kudiyeruppu guideline value

The current guideline value of Thamarai Kudiyeruppu is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Thamarai Kudiyeruppu has changed

Over the years, the guideline value of Thamarai Kudiyeruppu has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,650 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a remarkable increase of 264%. However, the value then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The guideline value rose again to Rs 6,000 per sq.ft in 2023, and further increased to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, placing Thamarai Kudiyeruppu's 2024 figure above this median.

• Thangavel Thottam: Rs 3,400 per sq.ft (2024)
• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)
• THANTHOONIAMMAN KOIL STREET (Kovil Land): Rs 3,400 per sq.ft (2024)
• SYNDICATE BANK COLONY 11th STREET: Rs 8,700 per sq.ft (2024)
• SYNDICATE BANK COLONY 10th STREET: Rs 8,700 per sq.ft (2024)
• Syndicate Bank Colony: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Kudiyeruppu

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, charged at 7%, would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling 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 details.

Which Sub Registrar Office covers Thamarai Kudiyeruppu?

The Sub Registrar Office that covers Thamarai Kudiyeruppu is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Padi, as it determines the stamp duty and registration fees payable. Buyers and sellers should be aware that the guideline value is used to assess the financial obligations during the registration process, ensuring compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for valuation, helping to establish the official worth of the property. This ensures that the transaction is recorded accurately and that the appropriate fees are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Thamarai Kudiyeruppu?

The current guideline value of Thamarai Kudiyeruppu 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 1,650 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the registration office for Thamarai Kudiyeruppu?

The registration office for Thamarai Kudiyeruppu is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Thamarai Kudiyeruppu?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

What are the guideline values of other streets in Padi?

Other streets in Padi have varying guideline values, with rates ranging from Rs 2,200 to Rs 13,200 per sq.ft. For example, Thangavel Thottam and Thanikachalam Street both have a guideline value of Rs 3,400 per sq.ft in 2024.