Guideline Value for THANTHAI PERIYAR NAGAR 'AMBEDKAR STREET'

Thanthai Periyar Nagar 'ambedkar Street' guideline value

The current guideline value of Thanthai Periyar Nagar 'ambedkar Street' is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Thanthai Periyar Nagar 'ambedkar Street' has changed

The guideline value for Thanthai Periyar Nagar 'ambedkar Street' has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which dropped to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

There are no registered figures for this street in the years 2002, 2003, and 2007. The 2023 revision marked a 49% increase from the 2017 figure, while the 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing the 2024 figure for Thanthai Periyar Nagar 'ambedkar Street' below this median.

• Thanthai Periyar Nagar 'anna Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'm.G.R.Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'nagathamman Koil Street': Rs 1,600 per sq.ft (2024)
• Thathankuppam Main Road: Rs 1,600 per sq.ft (2024)
• Thayamma Nagar: Rs 1,300 per sq.ft (2024)
• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periyar Nagar 'ambedkar Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanthai Periyar Nagar 'ambedkar Street'?

The Sub Registrar Office that covers Thanthai Periyar Nagar 'ambedkar Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically based on various factors.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately for taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Thanthai Periyar Nagar 'ambedkar Street'?

The current guideline value of Thanthai Periyar Nagar 'ambedkar Street' is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Thanthai Periyar Nagar 'ambedkar Street'?

The land classification for Thanthai Periyar Nagar 'ambedkar Street' is Residential Class III Type - III.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers Thanthai Periyar Nagar 'ambedkar Street', located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is accurately recorded for taxation purposes and affects the overall cost of buying or selling property.