Guideline Value for THAMBIAH REDDY ROAD

Thambiah Reddy Road guideline value

The current guideline value of Thambiah Reddy Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - II.

How the guideline value of Thambiah Reddy Road has changed

The guideline value for Thambiah Reddy Road has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 1,315 per sq.ft. This increased to Rs 2,000 per sq.ft in 2003, marking a change of +52%. The value then rose to Rs 4,980 per sq.ft in 2007, a substantial increase of +149%. However, the 2012 revision saw a decrease to Rs 14,000 per sq.ft, a decline of -33%. The value then increased to Rs 9,380 per sq.ft in 2017, reflecting a change of +49%. The most recent revision in 2023 set the value at Rs 14,000 per sq.ft, leading to a further increase of +10% to the current value of Rs 15,400 per sq.ft in 2024.

It is important to note that the register has no figures for the years not mentioned above. The overall change from 2002 to 2024 is +1,071%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median of Rs 6,600 per sq.ft. Thambiah Reddy Road's 2024 figure of Rs 15,400 per sq.ft is above the median.

• Thalayari Street: Rs 6,600 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 Thambiah Reddy Road

For a 1,000 sq.ft plot at the current rate of Rs 15,400 per sq.ft, the guideline value totals Rs 1,54,00,000. The stamp duty at 7% amounts to Rs 10,78,000, and the registration fee at 2% is Rs 3,08,000, bringing the total to Rs 13,86,000. 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 more information.

Which Sub Registrar Office covers Thambiah Reddy Road?

The Sub Registrar Office that covers Thambiah Reddy Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Mambalam. It is used to determine the stamp duty and registration fees payable when buying or selling property. The guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation purposes.

When a buyer or seller approaches the registration office, the guideline value will be referenced to calculate the applicable fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thambiah Reddy Road?

The current guideline value of Thambiah Reddy Road is Rs 15,400 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 1,315 per sq.ft in 2002 to Rs 15,400 per sq.ft in 2024, reflecting an overall increase of +1,071%.

What is the land classification for Thambiah Reddy Road?

Thambiah Reddy Road is classified as Commercial Special Type - II.

Which Sub Registrar Office is responsible for Thambiah Reddy Road?

The Thiyagaraya nagar Sub Registrar Office is responsible for Thambiah Reddy Road, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties on Thambiah Reddy Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 13,86,000.