Guideline Value for THAUMANAVAR STREET

Thaumanavar Street guideline value

The current guideline value of Thaumanavar Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Thaumanavar Street has changed

The guideline value for Thaumanavar Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, indicating that Thaumanavar Street's 2024 figure is below this median.

• The Breeze By Jones: Rs 3,350 per sq.ft (2024)
• Thendral Nagar: Rs 2,100 per sq.ft (2024)
• Thirukkural Street: Rs 1,950 per sq.ft (2024)
• Tamilselvi Nagar: Rs 2,900 per sq.ft (2024)
• Tamilnadu Housing Board (L.I.G & H.I.G): Rs 3,300 per sq.ft (2024)
• TAMIL NADU HOUSING BOARD (E.W.S A Type & B Type): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thaumanavar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thaumanavar Street?

The Sub Registrar Office that covers Thaumanavar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the applicable fees.

When a property is registered, the guideline value ensures that the transaction is recorded accurately and fairly within the legal framework. It helps maintain transparency in property dealings and ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thaumanavar Street?

The current guideline value of Thaumanavar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Thaumanavar Street?

Thaumanavar Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

What are the other streets in Chitthalapakkam?

There are several other streets in Chitthalapakkam with varying guideline values. Examples include The Breeze By Jones at Rs 3,350 per sq.ft and Thendral Nagar at Rs 2,100 per sq.ft.

Where is the Sub Registrar Office for Thaumanavar Street located?

The Sub Registrar Office covering Thaumanavar Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.