Guideline Value for THAMBUSWAMY STREET & ROAD

Thambuswamy Street & Road guideline value

The current guideline value of Thambuswamy Street & Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Thambuswamy Street & Road has changed

The guideline value of Thambuswamy Street & Road has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 6,840 per sq.ft. This increased to Rs 12,000 per sq.ft in 2012, a rise of 75%. However, it then decreased to Rs 8,040 per sq.ft in 2017, reflecting a decline of 33%. The value surged again to Rs 12,000 per sq.ft in 2023, marking a significant increase of 49%. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 93%.

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 guideline value in this area is Rs 5,500 per sq.ft, placing Thambuswamy Street & Road's 2024 figure significantly above this median.

• 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)
• Thakar Street: Rs 6,500 per sq.ft (2024)
• Temple Road / Lane: Rs 6,000 per sq.ft (2024)
• Sylvan Lodge Colony 4th Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thambuswamy Street & Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Thambuswamy Street & Road?

The Sub Registrar Office that covers Thambuswamy Street & Road 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 plays a crucial role during property registration in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable to the property transaction. Buyers and sellers should be aware that the guideline value is set by the government and can vary significantly between different streets and areas.

When purchasing a property, the guideline value is considered the minimum value for which the property can be registered. This ensures that all transactions are documented at a fair value, preventing undervaluation and ensuring proper tax collection.

Frequently asked questions

What is the current guideline value of Thambuswamy Street & Road?

The current guideline value of Thambuswamy Street & Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 6,840 per sq.ft in 2007 and reaching Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 93%.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office handles registrations for this area?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Thambuswamy Street & Road.

How is the guideline value determined?

The guideline value is determined by the government and varies by location. It is used to assess the minimum value for property transactions, ensuring proper documentation and tax collection.