Guideline Value for THERADI STREET

Theradi Street guideline value

The current guideline value of Theradi Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Theradi Street has changed

The guideline value for Theradi Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Theradi Street. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Theradi Street's 2024 figure below the median.

• THENMALAI NAGAR 2nd CROSS STREET: Rs 1,320 per sq.ft (2024)
• THENMALAI NAGAR 1st ROAD: Rs 1,320 per sq.ft (2024)
• Theeran Chinna Malai Street: Rs 2,200 per sq.ft (2024)
• Thanthai Periyar Kamaraj Street: Rs 1,650 per sq.ft (2024)
• Thanthai Periyar Avvaiyar Street: Rs 1,650 per sq.ft (2024)
• Thanks Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Theradi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Theradi Street?

The Sub Registrar Office that covers Theradi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value is also important as it can influence the sale price. Buyers and sellers should be aware of the current guideline value to make informed decisions during the buying and selling process.

Frequently asked questions

What is the current guideline value of Theradi Street?

The current guideline value of Theradi Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Theradi Street?

The land classification for Theradi Street is Residential Class IV Type - II.

What are the registration fees for properties on Theradi Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Theradi Street located?

The Sub Registrar Office for Theradi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.