Guideline Value for THATTAN MALAI STREET

Thattan Malai Street guideline value

The current guideline value of Thattan Malai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thattan Malai Street has changed

The guideline value for Thattan Malai Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In the following years, the value increased significantly, reaching Rs 1,500 per sq.ft in 2023 and then rising to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Thattan Malai Street's 2024 figure below that median.

• Thimmarajapuram Kulam: Rs 3,850 per sq.ft (2024)
• T.B.Salai Ward-4: Rs 2,750 per sq.ft (2024)
• Syed Yaguf Street: Rs 2,200 per sq.ft (2024)
• Sunnambukarath Street: Rs 2,200 per sq.ft (2024)
• Sundaravinayagar Kovil Street: Rs 2,200 per sq.ft (2024)
• Sundaramurthy Vinayagar Kovil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thattan Malai Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Thattan Malai Street?

The Sub Registrar Office that covers Thattan Malai Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chengalpattu Natham. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When registering a property, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thattan Malai Street?

The current guideline value of Thattan Malai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Thattan Malai Street?

Thattan Malai Street is classified as Residential Class I Type - I. This classification is important for determining the use and regulation of the land.

What are the other streets in Chengalpattu Natham with their guideline values?

Other streets in Chengalpattu Natham have varying guideline values, with some streets like Thimmarajapuram Kulam at Rs 3,850 per sq.ft and T.B.Salai Ward-4 at Rs 2,750 per sq.ft. The values range from Rs 1,100 to Rs 5,500 per sq.ft.

How is stamp duty calculated for properties in Thattan Malai Street?

Stamp duty for properties is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.