Guideline Value for THANDAVARAYAN STREET

Thandavarayan Street guideline value

The current guideline value of Thandavarayan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Thandavarayan Street has changed

The guideline value of Thandavarayan Street has undergone several revisions over the years. Starting from Rs 245 per sq.ft in 2002, it increased to Rs 304 per sq.ft in 2003, marking a 24% rise. The value saw significant growth to Rs 900 per sq.ft in 2007, which is an increase of 196%. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then rose to Rs 1,675 per sq.ft in 2017, showing a 49% increase. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, before the current value of Rs 2,750 per sq.ft was established in 2024, which is a 10% increase.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Thandavarayan Street's 2024 figure is below this median.

• Thangal Street: Rs 1,950 per sq.ft (2024)
• Tamil Nagar 5th Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 4th Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 3rd Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 2nd Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 1st Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Thandavarayan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can 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 II 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 online.

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

The guideline value is an essential factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring compliance with local regulations. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Thandavarayan Street?

The current guideline value of Thandavarayan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1022% over the years.

What is the land classification for Thandavarayan Street?

Thandavarayan Street is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Thandavarayan Street?

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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.