Guideline Value for THIAGARAJAN PURAM

Thiagarajan Puram guideline value

The current guideline value of Thiagarajan Puram is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO). The land classification for this street is Residential Class IV Type - II.

How the guideline value of Thiagarajan Puram has changed

Since the first recorded revision in 2002, the guideline value has seen significant changes. The value started at Rs 1,116 per sq.ft in 2002, then increased to Rs 1,240 per sq.ft in 2003, marking an 11% rise. Following this, the value rose to Rs 1,540 per sq.ft in 2007, which is a 24% increase. The next revision in 2012 saw a substantial jump to Rs 7,000 per sq.ft, representing a remarkable 355% increase. However, in 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The most recent revision in 2024 brought the value back up to Rs 7,700 per sq.ft, reflecting a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 590%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Thiagarajan Puram's current guideline value is below this median.

• Thideer Nagar: Rs 3,300 per sq.ft (2024)
• Thengoor Selva Vinayagar Koil Street (Tsv): Rs 7,100 per sq.ft (2024)
• Thippu Sahib Street: Rs 3,300 per sq.ft (2024)
• Thejabai (Marvadi Thottam): Rs 3,300 per sq.ft (2024)
• Thandavarayan Street (Near Madha Church Road): Rs 7,100 per sq.ft (2024)
• Thandavarayan Street (Mrc Nagar): Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiagarajan Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty, charged at 7%, would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total fees would amount to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiagarajan Puram?

The Sub Registrar Office that covers Thiagarajan Puram is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the actual sale price or the guideline value, whichever is higher, will be used to determine the stamp duty.

Frequently asked questions

What is the current guideline value of Thiagarajan Puram?

The current guideline value of Thiagarajan Puram is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,116 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 590%.

What is the land classification of Thiagarajan Puram?

Thiagarajan Puram is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher.

Which office handles property registration for Thiagarajan Puram?

The Mylapore Sub Registrar Office handles property registration for Thiagarajan Puram, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.