Guideline Value for THANDAVARAYAN STREET

Thandavarayan Street guideline value

The current guideline value of Thandavarayan Street in Ekkaduthangal village is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Thandavarayan Street has changed

Since the guideline value register began, Thandavarayan Street has seen several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 397 per sq.ft. This increased to Rs 458 per sq.ft in 2003, followed by a significant rise to Rs 1,000 per sq.ft in 2007. The value then jumped dramatically to Rs 2,800 per sq.ft in 2012, but saw a decrease to Rs 1,876 per sq.ft in 2017. The most recent revisions show the value at Rs 2,800 per sq.ft in 2023 and Rs 3,080 per sq.ft in 2024.

Between the revisions, the changes are as follows: from 2002 to 2003, the increase was +15%; from 2003 to 2007, it rose by +118%; from 2007 to 2012, it increased by +180%; however, from 2012 to 2017, there was a decrease of -33%. The value then increased by +49% from 2017 to 2023 and finally rose by +10% from 2023 to 2024. Overall, the guideline value has increased by +676% from 2002 to 2024.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Thandavarayan Street's 2024 figure below this median.

• Thanigaimalai St: Rs 3,080 per sq.ft (2024)
• Thirugnanasambandam Street: Rs 3,520 per sq.ft (2024)
• Thirukumaran St: Rs 3,080 per sq.ft (2024)
• Thirumal 7th Street (Gandhi Nagar): Rs 3,520 per sq.ft (2024)
• Thirumal Street: Rs 3,520 per sq.ft (2024)
• Thirumoolar Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Thandavarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total to Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thandavarayan Street?

The Sub Registrar Office that covers Thandavarayan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Ekkaduthangal. It serves as the minimum value on which stamp duty and registration fees are calculated during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the final sale price should be compared to the guideline value. The stamp duty is charged on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thandavarayan Street?

The current guideline value of Thandavarayan Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, marking an overall increase of +676%.

What is the land classification of Thandavarayan Street?

Thandavarayan Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

Where is the Sub Registrar Office for Thandavarayan Street located?

The Sub Registrar Office for Thandavarayan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thandavarayan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 30,80,000, the stamp duty at 7% would be Rs 2,15,600.