Guideline Value for THANAPPA STREET(LANE)

Thanappa Street(Lane) guideline value

The current guideline value of Thanappa Street(Lane) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Thanappa Street(Lane) has changed

The guideline value for Thanappa Street(Lane) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 6,500 per sq.ft. This was followed by a decrease to Rs 4,355 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 7,100 per sq.ft, marking a 63% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Thanappa Street(Lane) is below this median.

• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)
• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thalayari Street / Sanjeevi Street: Rs 7,100 per sq.ft (2024)
• Thachi Arunachalam Street: Rs 7,100 per sq.ft (2024)
• Teachers Colony: Rs 7,100 per sq.ft (2024)
• Thejabai (Marvadi Thottam): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanappa Street(Lane)

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value would amount to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanappa Street(Lane)?

The Sub Registrar Office that covers Thanappa Street(Lane) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price, with duty charged on the higher of the two. This ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the established guidelines.

Frequently asked questions

What is the current guideline value of Thanappa Street(Lane)?

The current guideline value of Thanappa Street(Lane) is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, and then increased to Rs 7,100 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 9%.

What is the land classification of Thanappa Street(Lane)?

Thanappa Street(Lane) is classified as Residential Class IV Type - III, indicating its suitability for residential purposes.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Thanappa Street(Lane)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at 7%.