Guideline Value for THIAGARAYA GRAMMANI STREET

Thiagaraya Grammani Street guideline value

The current guideline value of Thiagaraya Grammani Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Thiagaraya Grammani Street has changed

The guideline value for Thiagaraya Grammani Street has seen several revisions over the years. In the 2002 revision, the value was Rs 2,321 per sq.ft, which increased to Rs 2,716 per sq.ft in 2003, marking a 17% rise. The value then rose to Rs 3,000 per sq.ft in 2007, reflecting a 10% increase. Following this, the 2012 revision saw a decrease to Rs 8,000 per sq.ft, which was a significant drop of 33% from the previous figure.

In the subsequent revisions, the guideline value increased to Rs 5,360 per sq.ft in 2017, which was a 49% rise from the 2012 figure. The most recent revision in 2023 set the value at Rs 8,000 per sq.ft, and the current guideline value is Rs 8,800 per sq.ft as of 2024, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 279%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, indicating that the 2024 figure for Thiagaraya Grammani Street is below this median.

• Thilak Street: Rs 11,000 per sq.ft (2024)
• Thilak Street Extension: Rs 17,600 per sq.ft (2024)
• Thanjavur Road: Rs 11,000 per sq.ft (2024)
• Thanikachalam Road: Rs 17,600 per sq.ft (2024)
• Thirumalai Pillai 1st Street: Rs 14,300 per sq.ft (2024)
• Thirumalai Pillai Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiagaraya Grammani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, the total cost for stamp duty and registration would be Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiagaraya Grammani Street?

The Sub Registrar Office that covers Thiagaraya Grammani Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers are required to pay these fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property transactions to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thiagaraya Grammani Street?

The current guideline value of Thiagaraya Grammani Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,321 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 279% over this period.

What is the land classification for Thiagaraya Grammani Street?

Thiagaraya Grammani Street is classified as Residential Class I Type - II under the Thiyagaraya nagar SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office located for Thiagaraya Grammani Street?

The Sub Registrar Office for Thiagaraya Grammani Street is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.