Guideline Value for THANDAVARAYAN STREET (MRC NAGAR)

Thandavarayan Street (Mrc Nagar) guideline value

The current guideline value of Thandavarayan Street (Mrc Nagar) is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Thandavarayan Street (Mrc Nagar) has changed

The guideline value for Thandavarayan Street has seen significant changes over the years. In 2003, the guideline value was Rs 3,321 per sq.ft, which increased to Rs 3,430 per sq.ft in 2007, marking a change of +3%. This was followed by a substantial rise to Rs 16,000 per sq.ft in 2012, reflecting an increase of +366%. The most recent revision in 2024 set the guideline value at Rs 17,600 per sq.ft, which is a +10% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2017, and 2023 for this street. Overall, from 2003 to 2024, the guideline value has increased by +430%.

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. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Thandavarayan Street's 2024 figure significantly above this median.

• THANDAVARAYAN STREET (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thanappa Street(Lane): 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 Thandavarayan Street (Mrc Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees together to Rs 15,84,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Thandavarayan Street (Mrc Nagar)?

The Sub Registrar Office that covers Thandavarayan Street (Mrc Nagar) 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

When buying or selling property in Mylapore, the guideline value is a critical factor that determines the registration fees and stamp duty payable. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Thandavarayan Street (Mrc Nagar)?

The current guideline value of Thandavarayan Street (Mrc Nagar) is Rs 17,600 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 3,321 per sq.ft in 2003 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of +430% over this period.

What is the land classification for Thandavarayan Street (Mrc Nagar)?

Thandavarayan Street (Mrc Nagar) is classified as Residential Special Type - III, indicating its suitability for residential developments.

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 the stamp duty calculated for property transactions?

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 1,76,00,000, the stamp duty would be calculated at 7% of this amount.