Guideline Value for THANDAVARAYAN STREET

Thandavarayan Street guideline value

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

How the guideline value of Thandavarayan Street has changed

The guideline value for Thandavarayan Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this value decreased to Rs 4,355 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 6,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 7,100 per sq.ft.

From 2007 to 2024, the overall increase in guideline value is 294%. Notably, the change from 2023 to 2024 represents a 9% increase, while the jump from 2017 to 2023 was a substantial 49%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, indicating that Thandavarayan Street's 2024 figure is above this median.

• Thandavan Achary Street: Rs 7,100 per sq.ft (2024)
• Thana Street(A) Kanthappa Mudali High Road: Rs 9,900 per sq.ft (2024)
• Thambuswamy Street & Road: Rs 13,200 per sq.ft (2024)
• Thakar Street: Rs 6,500 per sq.ft (2024)
• Temple Road / Lane: Rs 6,000 per sq.ft (2024)
• Sylvan Lodge Colony 4th Street: Rs 13,200 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 of Rs 7,100 per sq.ft, the guideline value amounts 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. 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 Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Purasaivakkam. 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 registered, the higher amount between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the actual value of the transaction.

Frequently asked questions

What is the current guideline value of Thandavarayan Street?

The current guideline value of Thandavarayan Street 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 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 294% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is below the current value of Thandavarayan Street.

What are the stamp duty rates for properties in Thandavarayan Street?

The stamp duty for properties in Thandavarayan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thandavarayan Street?

The Sub Registrar Office covering Thandavarayan Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.