Guideline Value for THAMIZHAR VEETHI

Thamizhar Veethi guideline value

The current guideline value of Thamizhar Veethi is Rs 4,600 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Thamizhar Veethi has changed

The guideline value for Thamizhar Veethi has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 738 per sq.ft. This increased to Rs 1,300 per sq.ft in 2007, marking a significant rise of 76%. By 2012, the value further increased to Rs 4,300 per sq.ft, reflecting a substantial growth of 231%. However, in the 2017 revision, the value dropped to Rs 2,881 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 4,600 per sq.ft, which is an increase of 60% from 2017.

It is important to note that the register has no figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, there has been a total increase of 523% in the guideline value.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Thamizhar Veethi's 2024 figure below this median.

• Thailamall Street: Rs 3,800 per sq.ft (2024)
• Taylors Estate 3rd Street: Rs 7,100 per sq.ft (2024)
• Taylors Estate 2nd Street: Rs 7,100 per sq.ft (2024)
• Taylors Estate 1st Street: Rs 7,100 per sq.ft (2024)
• Tank Street (U.I. Colony): Rs 8,200 per sq.ft (2024)
• Tambaiah Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thamizhar Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty, charged at 7%, would be Rs 3,22,000, and the registration fee, at 2%, would be Rs 92,000. Together, the total cost for these fees would be Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Thamizhar Veethi?

The Sub Registrar Office that covers Thamizhar Veethi is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Puliyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Thamizhar Veethi?

The current guideline value of Thamizhar Veethi is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 738 per sq.ft in 2003 to Rs 4,600 per sq.ft in 2024, reflecting an overall increase of 523% over this period.

What are the stamp duty and registration fees for property in Thamizhar Veethi?

For a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000 and the registration fee would be Rs 92,000, totaling Rs 4,14,000.

Which Sub Registrar Office covers Thamizhar Veethi?

The Kodambakkam Sub Registrar Office covers Thamizhar Veethi, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.