Guideline Value for THATTARA STREET

Thattara Street guideline value

The current guideline value of Thattara Street in Karunguzhi village is Rs 401 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Mixed Type - I land.

How the guideline value of Thattara Street has changed

The guideline value for Thattara Street has seen several revisions over the years. In 2007, the value was Rs 80 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 268 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 400 per sq.ft in the 2023 revision, and it has remained unchanged at Rs 401 per sq.ft in the 2024 revision, reflecting a 0% change from the previous year.

Notably, the register has no figures for Thattara Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 401%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft. The median value for these streets is Rs 401 per sq.ft, which is equal to the current guideline value of Thattara Street.

• Thumbhulavar Street: Rs 401 per sq.ft (2024)
• Vaiyali Vinayagar Koil Street: Rs 401 per sq.ft (2024)
• Valluvar Veedhi: Rs 401 per sq.ft (2024)
• West Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Z.N.Nagar: Rs 500 per sq.ft (2024)
• Shalom Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Thattara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, leading to a total of Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thattara Street?

The Thattara Street property falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karunguzhi. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thattara Street?

The current guideline value of Thattara Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking a total increase of 401% over the years.

What are the other streets in Karunguzhi with the same guideline value?

Other streets in Karunguzhi with a guideline value of Rs 401 per sq.ft include Thumbhulavar Street, Vaiyali Vinayagar Koil Street, Valluvar Veedhi, and West Pillayar Koil Street.

What fees are applicable when purchasing property in Thattara Street?

When purchasing property in Thattara Street, the applicable fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thattara Street located?

The Sub Registrar Office covering Thattara Street is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.